Pretty much the same issue except mine worked for about 2 months
I am wondering if it got shorted out? It worked for about 2 1/2 months and i stopped using it for about a week and then it just seems to have died. The power light comes on but there is no activity between the VC500 and my Laptop. The USB doesn't prompt a New hardware found noise nor does it show up in the Device Manager
Televison & Video - Diamond Multimedia - ( VC500) Video Capture
Answers & Comments
USB is sometimes seems strange; once a device is found by the device manager, it does not repeat the 'new hardware found' routines UNLESS it is plugged into a different USB port. You can go through Control Panel to the System manager, and delete the USB device from the hardware list. Then plugging it back int will trigger the hardware manager to re-initialize it.