I’ve tried uninstalling the microphone and restarting the computer .
I’ve tried all kind of reconfigurations of the volume settings in the control panel .
Well after about hundred posts the solution was easy –
Uninstall the Skype –> restart the computer –> Download the latest version of Skype from http://www.skype.com/intl/en/get-skype/ –> Install Skype again –>
When the Skype opens it’ll give you the chance to choose test the microphone – > if it doesn’t work you’ll be given a chance to switch to the other microphone hardware from dropdown list that appears in the tester window.