I suspect that your private key just somehow lost its Implicit Trust status. Please right click on your key in All Keys of PGP Desktop, select Properties, and if Trust is not set to Implicit, use the down arrow to set it to Implicit.
As far as backing up your private key, I'd suggest first making sure you have PGP Options - Keys tab set to Back Up Keys When Exiting PGP Desktop. Next, in PGP Desktop All Keys, right click on your key and select Export, place a check in the box to include your Private Key, set a save location, and click the Save button. You may also want to save it to removable media such as a floppy, CD, or USB drive in case your hard disk should go bad. Of course, you want to only save your private key to a location where no one else has access to it.