This extension need sufficient free space to store / modify the data/settings. Chrome or any other browser will allocate required free space to individual extension based on a Quota policy and that will also depend on the free space in OS drive (generally C:). If this OS drive runs out of space then chrome will remove any free space allocation to some or all the extensions. In those cases this extension will stop working. To get around this issue you will have to cleanup the OS drive and get sufficient free space out of it. After cleanup, you may need to close chrome and reopen it to get the allocation corrected. Also see if chrome is running in tray and close that as well.
This issue will cause any or all of the following behavior:
As this issue is due to lack of free space in system and solution is already added in comment, will close this issue. If any one still face this issue and above solution did not work for you then please let me know with required details.