Well well this is interesting. Take a look at http://forums.macrumors.com/showthread.php?t=1372018
This thread was about the USB ports dropping out on the display.
The note from RuralVoice says "
I AM ADDING THIS SINCE I HAVE RESOLVED THE ISSUE FOR MY SITUATION--
This turned out to be an "All-in-One" display cable or display electronics issue. The way I isolated it was to unplug the Thunderbolt connector of the All-in-One display cable from the computer (leave power connector to computer plugged in). I then plugged in a regular Thunderbolt cable between a Thunderbolt port on the computer and the empty Thunderbolt port on the display. In this configuration everything worked (as I had bypassed the Thunderbolt portion of the All-in-One cable). Everything plugged into the other display ports worked and the display sound and display video camera worked fine.
Apple replaced my Thunderbolt Display which was under warranty.
Hope this is of some assistance.
Barry"
I'm a betting man. Twenty quid says it's the AIO cable....