Can't get my nanoKONTROL working in Ableton Live (Mac)

[mgpg]

I just got my Korg nanoKONTROL, but I can't get it to work in Live.
I installed the USB MIDI drivers from Korg, but I can't assign anything to the nanokontrol using the midi map menus.

The device is running (LEDs are on), but I can't seem to use it properly.
And there's no preset available in the controller dropdown menu.

Any help please?

[mgpg]

Alright, now I got it up and running, mapped everything how I like it. (still don't know how I pulled it off though, just kept repeating the same process over and over).

But now, when I'm in the middle of a set, after a given period of time, the nanoKONTROL just stops functioning until I disconnect it & plug it back in again?
Maybe it's interfering with my Launchpad, I don't know?

Any suggestions on how to resolve this issue?

[mgpg]

Extra info: the MIDI in/out indicators keep flashing, even when I'm not touching my controllers.