AudioBox iTwo randomly started recording at very low db

Ok first off, I apologize if this is long winded, but I want to give as much info as possible about my problem. Secondly, I've read the manual a couple times and I can't see that I've done anything incorrect. Third, thanks in advance for any help, I really appreciate it. I'm wrecking my head here for the last 6 hours trying to fix this.

I have the Audiobox iTwo, and it has worked perfectly for the last month with no issues recording what-so-ever. Last night the mic input doesn't seem to be getting the 48v from the Audiobox anymore. I didnt change any settings, and the best I can guess is I was ruing a few recording programs at the same time and somehow conflicted something somewhere, or, I have my mic (AT2020) coected to a desk mounted movable arm and I frequently move it up and down when Im getting in and out of the chair. The XLR cable that i'm using came with the arm, so maybe it's cheap and shorted from repeated movement?

basically the mic is reading input, but it comes through very weak even with all the knobs turned up. now this is the weird part, if i turn the 48v OFF, the mic works perfect for about 15s, but then fades out over the next 5 seconds back to very low level (normal speaking 4 inches away with pop filter removed comes through at -40 to -30 . also, if I put the audio mix all the way to input (left) i can hear myself nice and loud, so im guessing the mic and cable are fine.

This is windows 7.

What the heck am I doing wrong here? Id be happy to go down and by a replacement whatever if I knew what i needed to get.

Thanks, and let me know if you need any other info or specs, because this is absolutely wreckign my head.