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Sounds like you've got a failed drive. Did this happen out of the blue? Were there any bizarre hangs or crashes or anything that preceded this?
If it's showing up as unallocated, looks like you've lost the FAT table..so which the data might be intact, it's hard to get to it..
Most software recovery programs function when the HD in question can actually be seen by the computer, if that isn't the case, not sure how far these programs would get.
If there is vital information that is on the HD that you don't have backups of, you might have to go down the professional data recovery route that can get quite expensive..