It could be as simple a thing as cable issue... Tried another USB port?
What Antivirus are you running? You could try
1. Turning AV and other security programs off
2. Shut down computer and unplug USB drive
3. Start computer and connect USB drive but do NOT start security programs --- you can safely stay for a couple of hours in Internet with Windows 7, there's no imminent danger.
Did the problem arise immediately after the new installation? Did you have anything like this with the previous installation?