This piece of software needs operating system and hardware support, and it could be interfered by various of firewall/VPN/connection settings. In any case the software does not work for you properly, you could also consider the extremely low cost hardware solution.
Virtual Router Plus turns any Windows 7 and Windows 8 computer into a Wifi Hot Spot using Wireless Hosted Network technology.
What is Virtual Router Plus?
Virtual Router Plus is a free, open source software based router for PCs running Windows 7, Windows 8, Windows Server 2008 R2 and Windows Server 2012. Using Virtual Router Plus, users can wirelessly share any internet connection (Wifi, LAN, Cable Modem, Dial-up, Cellular, etc.) with any Wifi device (Laptop, Smart Phone, iPod Touch, iPhone, Android Phone, Zune, Netbook, wireless printer, etc.) These devices connect to Virtual Router just like any other access point, and the connection is completely secured using WPA2 (the most secure wireless encryption.)
Works on Windows 8 and Windows 2012
No installation needed
Do not start background service so anything is under your control