The application used to encrypt the memory card kept a UID in the system. If the phone has been reflashed, that UID is lost. I believe there is nothing to do since the software doesn't have the UID used to decrypt the memory card. It will continuously give errors if you attempt to access it. The same thing applies to the fact that you have the password. The password is recognized based on the mentioned UID, and since it doesn't exist anymore, the password becomes null.
