Is that Jelly Bean? Why not use WiFi tethering instead? There's another from Germany who is also having the same problem with Bluetooth tethering, but on ICS. I use WiFi tethering on my HTC One V without a problem.
Sent from my Windows Phone 8S by HTC using Board Express
Connect via the desktop. go to control panel=> Devices and Printers. When you have it connected on this screen and it shows up under devices, right click the S3 and select access point. It should now connect and your up and running.