My backlight isn't working! Inverter cable seems fine, now what?

Mayer idea is right. Usually, the culprits for a bad backlight are three. Well, four, but the latter one is so rare to be utterly nonexistant.

1. A damaged inverter is the first one, and it's usually responsible for an absent, or dim backlight.

2. The second culprit is the inverter cable. You must however notice that a damaged or frayed inverter cable may look fine, but actually may be internally damaged, bent or broken. The telltale symptom is a blinking backlight, that goes on and off when you jiggle the monitor, until it's utterly trashed, and then it gives an absent backlight.

3. The third cause is a faulty CCFL lamp. A CCFL lamp is... picture it a small neon, lodged on the back of your LCD. When it's aging, it starts to give off a yellowish or pinkish hue, until the light dies.

The fourth cause, negligibile and never observed by myself, is a bad capacitor near the Inverter Cable.

You found a frayed white cable however. Check with mayer's guide: there's a possibility it's one of the cables soldered to the CCFL lamp that connect to the Inverter.

I suggest you to try to fix the cable ASAP: I wouldn't keep a frayed cable near a hinge. However, if it's the white cable that comes out the LCD panel, as mayer instructed you, you may have in your hands a mild case of case 3: your CCFL lamp is fine, but its connection to the Inverter is busted.

I doubt you fried the CCFL lamp, but since you're at it, you may fix the cable.