If it's taking power, you should see a RED light, which will go off when the device is fully charged. The yellow just shows a USB connection (among other things, but not power), so I'd suggest trying to connect the USB cable to a different port on the computer to see if you can get a red light showing.
Alternatively, get hold of a PSP charger (with the round power connector) and charge using that. (Which is a better way anyway, as you can keep using the device while it charges with this method.)
Once charged try:
a) Sliding the power switch (check the LED, as it should show yellow during startup)
b) Pressing the reset on the back try (a) again. (Note: Reset on it's own won't do a statup!)
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