Send M115 and it should answer with a version string. Arduino's serial console can be a bit quirky, prefer HyperTerminal, PuTTY, Pronterface (enter manual commands to the lower right) or Repetier Host (has a manual mode (?) ).
In case you can't even send something you have to find the baud rate. Typical values are 19200, 38400, 57600, 115200 and 250000. Shortly after a reset, the firmware should send at least an "ok" on it's own.