I think you use Windows 7 PC. If this is the case, get hold of a XP machine and try to access your data. I am not promising anything but sometimes it works. If you were able to access, copy back your data and repartition and format (NTFS) your drive using Disk Manager on that PC. Make sure to assign drive letter W or anything higher.
AND DON"T USE SMARTWARE DURING ANY RECOVERY PROCESS!
To access Disk Manager - Press WIn Key + R and then type diskmgmt.msc on dialogue box.
If all fails, you can try TestDisk from XP machine to recover drive bad sectors.
If unsuccessful, you may have to return the drive for replacement or refund. Data recovery may be possible via WD approved Data Recovery Agents but it is costly.