There are a few applications or packages that I installed on the router to be able to set the serial speed and make text editing simpler. The default text editor on the version of OpenWrt I installed was vi which is somewhat not user-friendly and so I installed nano. I also installed stty and setserial and all of their dependencies. I did this manually where I basically downloaded the packages file along with the packages that I wanted to install to my computer and uploaded them to the /tmp folder on my router, ssh'ed into the router and ran opkg on the packages to install them. Change the serial speed with a command like this:
stty –F /dev/ttyS1 raw speed 9600
The problem is that each time the router is reset/ looses power this command is reset and must be executed again. To resolve tis we can add these commands to a start up script so that they are executed every time the router restarts.
The following sites were helpful: