An update,
it did not showed up in th explorer-type window because of a
collision with a disk drive letter from my connection at work. I
removed it and now the Iomega is there as Local Disk (H

. Double
clicking on it says again:
Cannot access H:\.
The archive directory is damaged or unreadable
It takes a few seconds to say so while the bar on the top
part of the explorer window is getting green.
In the hardware window is still called 'Storage' with
the same driver.
Thanks again,
Valentin