Does it hold the speed a little then have it drop off, or does it not work at all? Do you have a green light on the switch that goes on when engaged?
The cruise control is an electromagnet that energizes on the hydro plate and stops it from swivelling. Did a branch swing up and disconnect one of the wires? Is the plate/magnet covered with grease? - try some carb cleaner on the magnet/plate. Tell us what you have tried/checked.