I have to say that my WD ext. hard drive JUST did this to me this morning. I about had a heart attack! I tried two computers, nothing. It powers up, but isnt recognized and nothing popped up to say it was recognized on either computer.
Come to find out, it was the cable. I had the wrong cable. Same type of plug, the light on the hard drive works, but nothing would open. I found another cable that worked. After reading all these replies, I am now backing up my HD to another hard drive and DVD's/CD's.
Good luck to you all that may have problems. Back up! That is my suggestion. Always back up!