Most likely not. If it is FAT32, then a DOS boot disk can be used to see it. If DOS can't see it, then its likely you fell into the DRIVE MANAGER, EZDrive or Maxblast trap. People install drive extenders and are unaware of the future implications. One being you can't pick up the drive and install it elsewhere.
Your knowledge of how the drive was prepared is needed to recover the data. Sometimes you can boot the drive and backup. Sometimes you boot up a Maxblast disk and remove the extension.
Best of luck in recovery.
After having my old harddrive die, I installed a new one, but my second harddrive is showing as Dymanic Foreign and will not allow me to bring it back into the system. It is just a storage disk and full of data. It was FAT32 in the old system and worked fine. Is there a way to get XP to see the drive again without having to reformat it.