Minwah,
Theres a couple of things you could do, but it's all about what you prefer.
Also, photrock is right about updating drivers, but I don't believe MS has released any updated drivers, plus hubs don't have "drivers" per se, they just use the standard driver that comes with the USB stack. What you could look at is making sure you installed your chipset software depending on your Motherboard. What kind do you have, btw? Also, you didn't mention what OS you are using, but I doubt you reallly want to update that anyways.
Here's a couple of notes and suggested solutions:
A: You really shouldn't use a hub for your controls. It adds a bit of delay, BUT it is convienent.
B: You could try a different hub, maybe you did get a bad one or they are using a crappy chip. But really there pretty much the same. If you get a different one, get a different brand and don't worry about price, money doesn't really buy you anything.
C: You are only using your USB Hard drive for updates, Right? Well enable USB 2 when you update the roms and disable when you don't need it. I think there's a couple of ways you could do this.
1. The BIOS way I showed you.
2. Then in Windows I think there is a couple of ways you could do it. In the Windows way, you don't touch your BIOS you just leave it enabled. I think you can create different hardware profiles and then at boot up you select which one you want. So in one you would have it enabled, and then in the other you would disable it in Device Manager and save that profile. Or you could just enable it in Device Manager when you want to use it. Oh, and What you are enabling/disabling in Device Manager is the EHCI controller(Enhanced Host Controller Interface).
Either way it's up to you for your situation. Try them and see which you like the best.