Ah the dreaded USB problem
Is your port powered on the PC ? Most early laptops do not automatically default to power sent from the port, this has to be activated (I did it on my laptop for a broadband modem, after about a year and was using a powered hub for no reason otherwise, but cannot recall how).
You HAVE to ensure that the PC or laptop is recognising the ELVIS is connected on the USB port, this means having nothing else running, no hubs, no modems no 5.1 sound processors.
Does the light come on when the power menu is activated, or is on when the ELVIS is connected ?