After spending MANY hours trying to get my connection working on a new install of Windows 7 Ultimate using the latest download of Connection Manager (O2-CE_EM_Novatel_930D_Novacore_3.4.R1.118), I decided to try an old copy I had saved (O2-CE_Novatel_3.4.R1.98.exe). Lo and behold it worked first time!
If anyone else is having problems PM me and I'll send you a copy.
I have the same issue. I downloaded the file from the link and hopefully it will work for me. I have been going nuts trying to figure this out so I really hope it works. Thank you very much for the download.