I strongly suggest you try the drive on a different computer. If you are able to unlock it there, please remove the security on the drive and then put it back to your PC. Hopefully the error won’t pop up.
Please make sure you install the SES driver on your system as well, I don’t think you will be able to unlock it otherwise. Here’s a link to the file and the SmartWare image file, which you can burn if you cannot find your CD: http://products.wdc.com/support/kb.ashx?id=S7SRJw
What is the SES driver and why you need it: http://products.wdc.com/support/kb.ashx?id=MRt3mj
If you didn’t back up any filles, you make use of a data recovery tool: iBoysoft Free Data Recovery Software for Windows [Download & Service]
Hope this helps.