According to this post, you need to have the latest versions of the BIOS to work with Hyper-V and enable to the Virtualization:
The older versions of bios didn't have that option, but it was enabled by default. The latest releases 1202, 1305 versions, have the option to enable or disable, the virtualization feature.
There are two places that this could potentially be:
- This SU Post suggests it's found under "Intel Virtualization Technology"
- This SU Post suggests the option is under "Secure Virtual Machine Mode" in Advanced-->CPU Configuration
I would check for both.
Since Hyper-V uses a Hypervisor this is necessary in order to enable the Win Phone 8 emulator.