With one of my old USB sticks (2GB Dane-Elec Z-Mate), something strange happened.
Each time when clicking on the “Safely Remove Hardware and Eject Media” (on Windows 7), it displayed “Eject Open … 4GB-Windows 7 …” (see below).
After searching on Google I found a solution:
In Windows Explorer go to C:\Users\USERNAME\AppData\Local\Microsoft\Device Metadata\dmrccache\en-US.
You should find the following folder there: \d42472c3-a173-455f-8fc5-640e344597b1\.
Delete this directory (folder) d42472c3-a173-455f-8fc5-640e344597b1 with the offending USB drive still attached to the computer.
Now use the “Safely Remove Hardware and Eject Media” and remove the offending USB Device.
Reinsert the offending USB Device and all it will be displayed normally.
Indeed, after doing the operation above, the USB stick would show up as below: