It is unlikely it is destroyed by the Disk Utility verify command itself. If it behaves as though it is destroyed, after trying the following tests, then it probably was marginal in the first place and ready to die after the last most intensive use:
1. Try connecting it to another computer alone.
2. Disconnect after shutting down the computer. And reconnect only after rebooting the computer gets you the full desktop and Spotlight is done indexing in the upper right.
3. Make sure Spotlight isn't indexing it by adding it to the privacy section of Apple menu -> System Preferences -> Spotlight.
4. Try zapping the PRAM if the machine is under 4 years old: http://support.apple.com/kb/HT1379
5. Check if other USB devices work.
WD externals have a reputation for having very flaky chipsets. The drive may still be fine, but the enclosure could be toast. If Brody's suggestions don't help, see if putting it in a decent enclosure brings it back to life. It's not difficult to remove.
Brandon, just a short word of advice not meant to be critical. Anyone to whom you award points can readily see you have done that, so need to write that in your post, especially in bold. Brody has almost 56,000 points and, while I'm sure he appreciates that, since many don't bother awarding points at all, no need to make such a big deal of it.
And no need to point it out, even to someone with no points accumulated. Just as we don't ask for points, it's a small bit of bad form to announce giving them.