The solution of thatraja actually works (the element is found and is disabled), but you didn't get the desired result. An ASP:Menu control is not really one control. Take a look at this generated HTML, a menu with three items:
<table id="ctl00_MenuCntrl" class="ctl00_MenuCntrl_2" colspan="2" renderingmode="Default" clientidmode="Static" cellpadding="0" cellspacing="0" border="0">
<tr>
<td onmouseover="Menu_HoverStatic(this)" onmouseout="Menu_Unhover(this)" onkeyup="Menu_Key(event)" id="ctl00_MenuCntrln0">
<table class="ctl00_MenuCntrl_4" cellpadding="0" cellspacing="0" border="0" width="100%">
<tr>
<td style="white-space:nowrap;">
<a class="ctl00_MenuCntrl_1 ctl00_MenuCntrl_3" href="javascript:__doPostBack('ctl00$MenuCntrl','New Item1')">New Item1</a>
</td>
</tr>
</table>
</td>
<td style="width:3px;"></td><td id="ctl00_MenuCntrln1">
<table class="ctl00_MenuCntrl_4" cellpadding="0" cellspacing="0" border="0" width="100%">
<tr>
<td style="white-space:nowrap;">
<a class="ctl00_MenuCntrl_1 ctl00_MenuCntrl_3" disabled="true">New Item2</a>
</td>
</tr>
</table>
</td>
<td style="width:3px;">
</td>
<td onmouseover="Menu_HoverStatic(this)" onmouseout="Menu_Unhover(this)" onkeyup="Menu_Key(event)" id="ctl00_MenuCntrln2">
<table class="ctl00_MenuCntrl_4" cellpadding="0" cellspacing="0" border="0" width="100%">
<tr>
<td style="white-space:nowrap;">
<a class="ctl00_MenuCntrl_1 ctl00_MenuCntrl_3" href="javascript:__doPostBack('ctl00$MenuCntrl','New Item3')">New Item3</a>
</td>
</tr>
</table>
</td>
</tr>
</table>
It is actually a table, with a single row and three cells. And in each cell there is another table with one row and one cell. To disable the menu you need to disable a lot of elements. You also may have to remove the events like onmouseover and onmouseout and the javascript_postback.
Now take a look at the code that is generated when you set the menu as disabled in the control (enabled=false). Some elements are disabled and there are no events and no javascript_postback.
<table id="ctl00_MenuCntrl" disabled="disabled" class="ctl00_MenuCntrl_2" colspan="2" renderingmode="Default" clientidmode="Static" cellpadding="0" cellspacing="0" border="0">
<tr>
<td id="ctl00_MenuCntrln0">
<table class="ctl00_MenuCntrl_4" cellpadding="0" cellspacing="0" border="0" width="100%">
<tr>
<td style="white-space:nowrap;">
<a class="ctl00_MenuCntrl_1 ctl00_MenuCntrl_3" disabled="true">New Item1</a>
</td>
</tr>
</table>
</td>
<td style="width:3px;"></td><td id="ctl00_MenuCntrln1">
<table class="ctl00_MenuCntrl_4" cellpadding="0" cellspacing="0" border="0" width="100%">
<tr>
<td style="white-space:nowrap;">
<a class="ctl00_MenuCntrl_1 ctl00_MenuCntrl_3" disabled="true">New Item2</a>
</td>
</tr>
</table>
</td>
<td style="width:3px;"></td>
<td id="ctl00_MenuCntrln2">
<table class="ctl00_MenuCntrl_4" cellpadding="0" cellspacing="0" border="0" width="100%">
<tr>
<td style="white-space:nowrap;">
<a class="ctl00_MenuCntrl_1 ctl00_MenuCntrl_3" disabled="true">New Item3</a>
</td>
</tr>
</table>
</td>
</tr>
</table>
How to disable the menu? You can write a lot of javascript and disable the right elements. But keep in mind that browsers are different. The javascript solution may not work for every browser.
I would go for this solution: add two divs, one visible at a time, containing an enabled and a disabled menu. Toggle between those to enable / disable the menu.