Should I attempt to repair this mouse damaged due to power surge?
You can open the mouse to see what is inside. The first suspect would be the cable, but you say that mouse is being detected, if it is USB mouse, then cable should not be the issue.

Thus I am afraid you are right in that something got damaged in the mouse in terms of logic. The only other serviceable part is button, but in clearly not the suspect in your circumstances.


  If I wait I may be able to get is replaced by the manufacturer


If you will try repairing it yourself it may be visible and manufacturer may refuse to replace the device. Beware!