It should work. I have the version 2 of that USB thing. The light wont' go
on unless networking is enabled (at least on v2). Lets go through the basics
of diagnostics.
1st. Do you have another computer you could test it on? If it works on
another computer it isn't a dud unit.
This is how it should look when you left click on the applet
(http://img163.imageshack.us/img163/6641/screenshotptt.png)
And this is what should appear when you right click
(http://img827.imageshack.us/img827/7043/screenshot1bt.png)
You said the enable wireless toggle button was greyed out when you looked at
the applet. Could you post a screenshot? You should be able to tick the box
when you right click on the applet.