Connect SerCon's 10pin-ISP1 (or something appropriate which offers TTL-Level Serial Port RX/TX and a GND connection) to the ISP connector of the OSD. Ensure correct pin-mappings!
Download Putty (or whatever Terminal Emulator you would like to use).
Do it this way:
The long wating time after setting up Putty is the time the OSD takes to "boot up" and identify Hardware/Software that is connected... The "moin" indicates it is ready!