I've Tested it on my own Phone....It Works..
This is just a compilation of the resources already available on various threads in XDA..
All credits to the original developers...
I take DO NOT responsibility for any damages - It worked on my phone, no reason it should
not work on the other 701HDs out there..
STEP 1 - ACTIVATE DEVELOPER OPTIONS ON YOUR PHONE:-
Go to the Settings menu
Scroll down and tap on the About Phone button
Scroll down until you see Build number and tap on that repeatedly
After tapping the Build number button a few times it says " you are now a developer!"
You have successfully activated Developer Options.
Now go to developer options and activate USB Debugging
STEP 2 - INSTALL PHONE DRIVERS
Connect your phone to your computer via USB.
Go to control panel -> device manager after a few minutes
Right click on Zen Ultrafone and update drivers ... required drivers are attached below.
Your device manager should not normally have any unrecognized hardware after this step. ( see attached Image).
The"Android Composite ADB Interface" MUST be listed by now... if not recheck your steps again.
Disconnect and restart your phone and your computer and make sure it stays that way.
STEP 3 - TIME TO ROOT!!
Extract the files in the archive Zen 701HD.rar in any place convenient.
Open the extracted folder.
Right click on the file Run.bat and choose "Run As Administrator"
Connect your phone Via USB now if not yet connected.
Follow the on screen instructions... (next to none.. so not explained)
Do NOT disconnect your phone during the process
Enjoy your Rooted phone!!