I had this same issue. Sounds like it got some sort of pressure on it at some point. Hopefully you have, or can get a new one, or can store the info to your hard drive or other external (optional) drive. If so, insert the device. If your computer does not recognize it as usual; lightly pull up on it, (or push down) VERY LIGHTLY. It simply may not be getting a good connection. Regardless of whether the light comes on, if it is automatically detected, and the computer pulls up the file retrieval options, or the files themsleves then you will be fine. The light simply lets you know if and when the device is in action.
If this is something you prefer to have for this particular device, I suggest purchasing a new one, or transferring the information/data to another unit.
Here is something that I tried, and if remember correctly - it worked. At the bottom right corner of your screen, (status bar) -- there should be an icon that when hovered by the mouse arrow (pointer), will read "Safely Remove Hardware". (this usually appears shortly after inserting a flashdrive, external drive into the usb port(s). Before inserting your drive again, see if this icon is still there - if so, click it and wait until a message appears saying "It is safe to remove....".
Now, enter the external drive into the usb port and see if it will detect it again. If so, you should have no issues retrieving the information.
REMEMBER: Anytime you insert any type of device into a usb port, always select this icon; you can also right click the external drive (under COMPUTER or MY COMPUTER) from the Start Menu, and select the "safely remove" option. This is what you want to do everytime,otherwise you may end up, like me at one point, formatting the external drive in order to use it again.
Remember, always try to "safely remove" first, even if you have already pulled it from the USB Port. The reason it does this: when you just take it out, and then try to re-insert it, and it fails to recognize: when it's pulled out, the files on the "computer" (though not really their anymore, since you just removed the root directly for them) become "ghost files". Therefore, the computer still thinks that the external drive is there, and then when you go into computer (even after inserting the drive) and try to access a file, you'll get an error message. If you press F5 in Computer, it should update the computer to the current (not re-inserted external drive) state and each drive currently running.
In order to re-detect the external drive at this point, you'll need to take it out, F5 the computer again; then re-insert it; if all else fails - log off and re-login to windows. If this doesn't work, re-start the computer, or log-off, or sign out, and try under an alias (other desktop/user) on the computer.
If this does not work
as well, then restart the computer.
Please, if you have any questions, let me know.
Guru, Premium Expert @ Fixya.com