If the drive supports it you could try Toshiba's USB security software it may work if it recognises the drive and after you create the security partition and the drives working again you could then just remove it.
If you tell me the model of the drive I could find a link to the software that I think would have the best chance of working with your model.
Well it's not actually a repair tool it allows you to create a privacy zone, x amount of password protected memory, but if it's like my Corsair USB it will create 2 partitions on the drive and format them both and there's a chance this will work, either way it's worth a try.
You can download the software and manual here - Software Downloads - TOSHIBA Memory Solutions
It should be the 5th one down for U2M drives so try that. It doesn't mention Win7 so you may have to use compatibility mode if it doesn't work the first time.
And as I said if it works and you can access the drive again then you can run it again and remove the privacy zone if you don't with to keep it.
Makes me think either your USB is not compatible with the software or it is totally stuffed.
I don't think anyone has any other suggestions so if no one new comes along I guess we will have to give up.
Sorry we could not help.
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