Yes, it's the same thing in XP. Hell, I can't even find it in Windows 7 without using the Godmode thing that people found out about.
Whenyou have a folder open there should be an item in the Tools menu that says folder options. When you open it, go to the "View" tab (I think it's the same in XP) and there will be a big list of a bunch of stuff you can turn on or off. There's an option that says "Hide extensions for known file types". Deselect that, and hit OK. Now all your files will have the extension shown, and you can rename them and change the extension.
After that, find the file, rename it, and add ".bin" on the end, and you'll have a bin file... I will warn you that just because you renamed it to a .bin, that doesn't mean that the file will be in the format that the program expects, but if the file for some reason, got renamed and had the bin extension removed, then that would fix things.