When you have the drive turned on can you feel vibrations from the drive if you place your hand on it? Can you hear it spinning?
What you are describing is an issue that the controller in the enclosure is being detected by the system but not the drive itself. This would be due to a lack of power getting to the drive or the drive failing and not being able to get any power. Check your AC adapter as well and make sure it is using the proper output ratings of 12V 2A.
I had just backed up about 400 NEF files from an SD card; but, the drive disappeared off the desktop. There was no power dip, and the drive was attached to AC with proper output (as usual); however, the drive is no longer showing up on my desktop or in Finder. The drive is ON, and is vibrating and spinning. I already tried turning OFF/ON; rebooting my Mac; etc.
What is happening? Is this fixable? And most importantly, will I be able to retrieve the thousands of photo files stored on the drive?