If you do "show version", does the router list "2 Serial(sync/async) interfaces"?
Have you tried the WIC in another slot (or, if possible, another router)? If there is a hardware issue, it would be good to try this to rule out either the router or the WIC as being faulty.
No it doesn't display the serial interfaces.
The module has been tested okay on another box (2621), but no slot in this particular box (2821) can see it. Other modules (like vwic 2mft-E1) is currently producing in the box. See output below.
Cisco 2821 (revision 53.50) with 247808K/14336K bytes of memory.
Processor board ID FTX1031A3RK
2 Gigabit Ethernet interfaces
36 Serial interfaces
8 Channelized E1/PRI ports
DRAM configuration is 64 bits wide with parity enabled.
239K bytes of non-volatile configuration memory.
62720K bytes of ATA CompactFlash (Read/Write)
Configuration register is 0x2102
See below the output showing my version;Cisco IOS Software, 2800 Software (C2800NM-SPSERVICESK9-M), Version 12.4(3e), RE
LEASE SOFTWARE (fc2)
Technical Support: http://www.cisco.com/techsupport
Copyright (c) 1986-2006 by Cisco Systems, Inc.
Compiled Tue 13-Jun-06 23:24 by alnguyen
ROM: System Bootstrap, Version 12.4(1r) [hqluong 1r], RELEASE SOFTWARE (fc1)