Are you using pop or exchange activesync (aka on the X as "Corporate") ?

 

It does...here you go.
http://androidforums.com/droid-x-tips-tricks/162745-hotmail-corporate-exchange-sync-working.html

 

It deletes for me, but there is a bit of a lag upon deletion...takes about a minute.

 

I can delete hotmail on the phone, but when I go to my account on the computer none of the messages that I deleted on the phone have been deleted on the computer. This is a known problem with free hotmail, and I am surprised that mxsjw gets any of his emails to delete, but perhaps he has a paid hotmail account and not the free hotmail.


The only way that I have found around this problem was to go into my computer hotmail account and forward all of my hotmail to gmail. When you do this, no new hotmail will show up on your computer, but you can delete any of the forwarded hotmail easily enough from either your gmail account on your phone or your gmail account on your computer.

 

Mine is set up like this http://androidforums.com/droid-x-tips-tricks/162745-hotmail-corporate-exchange-sync-working.html, if I set up the other way on the phone, I have the will not delete from both places issue.
And yes, it's a paid hotmail account ($20 a year).

The only problem I have, is when I read it and delete it from the phone, sometimes the message is still marked un-read in the deleted folder on the PC...I hate that. The fix for this for me has been to read them on the phone, close out and go back into hotmail on the phone to delete them later, then they stay "read" in the deleted folder on my PC, but I have to visit the email app on my phone twice for each email.

 

I don't think you can do this with a free hotmail account.
Fortuanately, however, forwarding free hotmail to the gmail account does work around the problem.