Going into managed apps and deleting the data would have been my suggestion however, you say the managed apps hangs on you. I would suggest that you flash the latest Gapps through your recovery. Give that a shot. maybe the fact that your on a old froyo build could be your dilemma. Good luck If you get your apps to load in " managed apps" select the "All" tab on the top, locate the Market and select it. Then press "delete data" and then go back to your market app and accept your terms again. you should be good to go at that point.