Everytime I connect my hp touchpad to my computer via usb cable that came with the touchpad, I activate the usb mode on the touchpad.
Windows 7 asks me to format it.
Should I do that?
That's a bit worrisome... Win 7 isn't really reading the TouchPad as a device with an independent OS, it must be classifying it as an external drive and it wants to see it in FAT or NTFS format. Formatting would, of course, destroy everything on the drive and render it blank.
Novacom has no bearing on the USB Drive partition. In fact if Developer Mode is off the device for Novacom won't even be present. The partition itself is supposed to be FAT, though somehow it is corrupt or otherwise unrecognizable from Windows. Pull the data off, then format the USB Drive partition from webOS (mkdosfs).