Resetting the USB port on a MacBook Pro
Update:  

There are two ways to reset a USB:


Hardware (see below).  This acts like plugging and unplugging a device. Great for when testing a single device that needs to be reset.
Software (How to restart USB subsystem?).  This will completely reset the USB bus.  Great for when the USB subsystem is hung up.




I saw a similar scenario solved by putting a momentary switch in-line with the USB +5V line on the USB cable (usually the red connector).  When the engineer wanted to reset the device (simulate removing then reinserting the device), he would depress (held it for a second or two) the switch cutting power to the USB device.  When the released it, power would be restored re-powering the device and the computer would reload it.



The advantage this had over doing something on Terminal was that it affected only the device in question and not all devices on the entire USB bus.

Doing a quick search, I was able to find pre-made switches that accomplish this for less than $10 USD



For a less "cludgy" solution, you could get a USB hub with individual power switches like the Sabrent 4 Port.