OK. Removed everything, re-installed everything. The same thing :-(
What I notete however - the PWR light is on, but the data transmission is on ONLY once as the card is detected or when I remove/insert the card. Then I see the PWD led only. BUT, when I remove ndiswrapper from the memory it starts blinking as if it sends data... That's pretty wierd. I can't understand what's up.