I've had the same problem with the TX and 3rd party software - Card Export 2 and Pocket Tunes - as two examples.
The solution for me was:
1 - Remove the Palm Desktop - using the Control Panel - Add Remove Programs.
2 - Run regedit (careful - since this is "playing" with the system registry)
3 - Search regedit for any reference to PalmUSBD
4 - Remove (delete) any reference to PalmUSBD
5 - Reboot the system
6 - Re-install Palm Desktop (from the CD that came with the Palm, in my case the TX)
7 - Things should be back to normal.
After having done this I set a System Restore point - which came in handy since I used Pocket Tunes while it was connected to the PC. The PC immediately indicated it had found "New Hardware" and wanted to install the drivers for the Palm. I tried disconnecting the Palm and cancelling the installation, but the damage was done. After a reboot of the PC and connecting the Palm again - CRASH. (I used the System Restore point I created to go back and the Palm connected OK.)
The same scenario repeats if I try using Card Export 2 (I've since changed to Card Reader from Mobile Stream without problems)
One of the applications you're running may try to install a "conduit" to connect to the PC for updates (similar to Pocket Tunes) and may result in an attempt to install another driver.
I don't have enough "programming" knowledge to know why these programs are looking for a different driver or why they don't use the driver currently installed. It could be that Palm has given a "different" id to the TX from previous Palms and so the conflict.
fnagle