How to unlock Windows Phone 7 HTC HD2 with ChevronWP7?
  1. Unzip Windows Phone 7 HTC HD2 Unlock Toolkit with 7-Zip ~ download link.
  2. Install Windows Phone Developer Tools ~ download link.
  3. Install Zune ~ download link.
  4. Open Zune and connect phone to PC with USB cable.
  5. Set your phone name as ‘HD7′.
  6. Attach ChevronWP7.cer (in toolkit ChevronWP7Cer folder) to your email and send the email to your email itself with PC.
  7. Login to your email account (on phone), open that email, select attachment and install the cert.
  8. Set your phone screen time-out to ‘never’ at Settings – lock & wallpaper.
  9. Make sure your phone date and time is set correctly.
  10. Make sure Zune is still running in background with phone connected.
  11. Make sure that your phone isn’t locked or the screen isn’t off during below installation.
  12. Based on the guide ~ close Skype and disable network adapter… hamachi… wireless… Dropbox… etc. But I did not have any of these and my Wi-Fi still on.
  13. Copy ChevronWP7.exe (in toolkit ChevronWP7-NoSideloadLimit folder) to local C: drive.
  14. Right click on it and select ‘Run as administrator’.
  15. Click ‘Yes’ if User Access Control prompt up.
  16. Check both preparation checklist and click ‘unlock’.
  17. Right click on Tom XAP Installer.exe and select ‘Run as administrator’.
  18. Click ‘Yes’ if User Access Control prompt up.
  19. Close it after it was loaded.
  20. Double click TouchXplorer.xap and install it on device.
  21. Double click XBMODDeployer.xap and install it on device.
  22. Copy CustClear.provxml (in My Documents – My Ringtones) to Windows folder on the phone using TouchXplorer.
  23. Double click Connection Setup.xap and install it on device.
  24. Click check button on connection setup to install CustClear.provxml.
  25. Set back your phone screen time-out to your previous setting.
  26. Reboot your phone.
  27. That’s all.
via: xda-developers

Note: We are not sure this work for 100% because it is on testing!