Please HELP!

Here's my situation

Running MAC 10.7.3 (Lion)
Installed "combo" as troubleshooting recommended.
Uninstalled drivers, installed latest drivers

Was using Snow Leopard. For no reason today, there was no audio coming out my monitors.
I've been using the Firewire 410 on this computer for more than 5 years.
Thought maybe updating everything would help, hence the upgrade to Lion and installing latest drivers.

However, I finally nailed the problem: In my System Preferences > Sound, I can see the Firewire 410 under the Input tab but I cannot see it under the Output Tab. When I pull up the Firewire 410 User Interface, it DOES show sound registering when I play a file, but no actual sound is coming out.

For some reason, the interface is not being recognized as an Output option.
I figure that the ports must be okay since it DOES recognize the interface as an Input.

Can anyone help me? I've also tried changing ports and cables.
I'm at a complete loss...