Of course!
You should read the "bible" thoroughly first, or the 8052.com tutorial on '51.
In boot3.asm, the UART gets initialized in the init routine, which goes:

;********************************************************************
; Init serial port
;********************************************************************
init:           mov scon,#52h       ; 8 bit UART mode
                mov tmod,#20h       ; use timer 1 as baud rate clk
                mov th1,#-13        ; 2400 Baud with 12MHz xtal
                setb tr1            ; start timer
                ret

For 11.0592MHz Xtal this gives 11059200/(12*32*13)=2215.4 bps.
If you receive the first transmitted chracter (<cr>=0dh) at 4800, you should see something like e6h (but hyperterminal might experience this as 66h = "f" - you might have set 7 data bits or forcing to 7-bit ascii or something similar).
You have 2 options:
- you correct the reload value in program (for 4800bps at 11.0592MHz the reload value is -6)
- set the PC's COM speed to 2215bps (this should be possible, but not with hyperterminal - try "terminal by bray").


Have fun!

Jan Waclawek