I had cut and pasted the relevant parts from an email I had sent to one of my clients.. about the same problem with his iMac.., hence the change from MBP to Mac half way through..... The principle is the same however...
FWIW.. I own 5 Ultralites, two Mk1s, a Mk2, a Mk 3 and a Mk 3 Hybrid... and have a variety of different iMacs and MBPs including a 2012 2.7Ghz 15" Retina.. .. All five have worked without issue using the FW to TB adapter on both my TB equipped iMacs and MBPs... with the exception of the now fixed TB 'sleep' issue that turned off the TB port of my 2012 iMac when the main display went to sleep... (This was seemingly fixed by a firmware update last year)
Anyhow, I'm wondering if you have 'popped' either your adapter, the TB port itself or even your Ultralite's FW port..when you moved the cable. Do you have access to another FW device like a HD which you could use to test the adapter and TB Port? That way you could rule out those two leaving only the Ultralite itself as possibly having an issue or some form of weird OS X issue.?
Can you also confirm the Ultralite works just using the power supply and not connected to the computer? (Lights on and audio being passed from an input to it's headphone socket or speakers.. )
I am assuming, from your description that you have a Mk3 and not a Mk3 Hybrid? If that assumption is incorrect, does the Mk3 Hybrid work via USB still?