there has been only 2 updates for my system since the beginning of march if you have already upgraded to sp1.
go into control panel/ programs and features/view updates and sort by date. you should see the latest 1s dated 9th of march or there abouts, un-instal them reboot and see if it fixes the problem. its unlikely that the m.s update is responsible, but worth a try.
NOTE: neither are for logitech devices
if that doesn't fix it. then reinstall em, reboot and remove the device and un-install its driver.
now install the latest driver for the device from logitech, 1s its installed plug it back in and the install will finish and the device should then work.
the chances are its something else in the usb hub conflicting or it may be that your usb hub has run out of bandwidth.