I run XP (in Parallels on a Mac system), using PMM 3.92, USB 2 cradle with no specific drivers installed.
Have you upgraded either MacOS or Parallels since it worked reliably? Media Manager 3.92 checks both the USB vendor/product string and the disk drive IDENTIFY data.
Can you go into Device Manager (right-click My Computer, select Properties, Hardware tab, Device Manager button), double-click on the device, select Details, select Hardware IDs from the drop-down list, and post what you see here?
Likewise for the displayed name (in Device Manager) of the hard drive?
I posted a list of the supported USB IDs as well as the supported and blacklisted drive list
over here.