The feature was removed as of Windows Vista, and was not added back into Windows 7. It does not appear that this feature is able to be added back in. See: http://www.adopenstatic.com/cs/blogs/ken/archive/2006/12/26/919.aspx

No progress bar

That's by design since Windows Vista:

The system turns off the video functionality before the sleep or hibernation process continues. You can still view the power indicators or the status indicators that your computer provides to determine whether the computer is asleep or in hibernation.

_{Source: No progress bar is displayed when you put a Windows Vista-based computer to sleep or into hibernation}

While you can't have a hibernation progress bar, you can still disable the standard animation shown during the resume process, and display a basic progress indicator instead. To do so, follow these steps:

1. Open an elevated command prompt.

2. Type or paste the following command, and press Enter:

   bcdedit /set {resumeloadersettings} bootux basic
   

3. Restart Windows to apply the changes.

Additional information

The bcdedit /set command sets a boot entry option value in the Windows boot configuration data store (BCD) for Windows Vista, Windows 7, [and later].

bootux [ disabled | basic | standard ]

Controls the boot screen animation. The possible values are disabled, basic, and standard.

Note Not supported in Windows 8 and Windows Server 2012.

_{Source: BCDEdit /set}