A couple of things:
First, you have your multi-meter hooked up incorrectly, but it doesn't really matter. It shows that you have something, and its probably good enough.
Second, no, the CDROM units to not use rubber bands. VCRs and turntables use rubber bands, but usually not CD players. The CD unit uses a direct drive variable speed motor for the spindle, and a rack and pinion set-up for the laser transport. Gear lash does become and issue on these CDROMS but that usually results in a long period of it being really easy to skip, followed by skipping for no reason during audio CD segments. These problems will go on for years and years before they result in a total failure.
As for the position your laser is in, Nijhazer, its good. When the laser parts itself in an unretrievable position, its over the other side (away from the spindle). A CDROM2 unit will leave the laser wherever it is when you turn the machine off. When you turn it on again it resets to the inside to begin reading the disk. When the laser gets stuck in the usual way, its only stuck because it ran past the rack. Moving it pretty much requires opening the machine because the gears need to be spun by hand, and accessing that from outside is tough. If this ever happens to you, you should know that you only need to move the laser far enough to get it back on track. 1/4 if the way in is plenty. It can take it from there.
Do not smack, or drop your CDROM2.
Neither of you have a fuse problem.
I'd wager the problem both of you are having is that the laser cannot see the CD when placed in the drive. The initial twitch from the CD you are seeing is the CDROM checking to see if a disk is present. If you could see inside the thing at this time you should be able to see the laser attempt to focus (the lens will move towards, and away from the CD itself just like a camera lens) When it sees the disk, it will begin to spin at full speed, but obviusly you aren't getting to that point.
The lens is either dirty, or junked (scratched, won't focus well, or something else you can't possibly fix). Try cleaning it with alcohol and a q-tip...carefully...but thoroughly...such a balance! If that doesn't work then you need a new CDROM drive mechanism. I supose if its come to this then you might try messing with the mini-pots, but only move them slightly, and mark the original position so you can put them back when you are done realizing it won't help.
If you are using nothing but CD-Rs, try a real CD, even an audio CD, before you can be sure the thing failed. Usually a CDROM2 will play CD-Rs no problem, but they weren't designed to, so you can't realistically expect it.