OMAP3630 is the cpu in the nook and there is no driver for that. Windows should be installing a generic removable drive USB driver.
I'll see the same message breifly if I plug the nook in turned off then power the nook up. Try a different USB port. The port your using may not be supplying enough power for the nook.
Ok, This was also something I found on my new color nook. Everyone is correct.
1. Power On your Nook, get it all setup - BEFORE connecting to your notebook/PC/XP.
2. Have your computer Powered OFF.
3. Connect Nook with USB cable to your PC
4. Power on your NOOK.
5. Power on your PC
6. XP will come up with message new storage device and will start loading required drivers.
That's about it, should be all set, and good to go. Best of Luck, happy Nooky..