Milwaukee makes good tools... Likely the forward/reverse switch has failed. This could happen if it got moved while drill was being used. The resulting arcing might have welded the contacts. Dis-assemble and replace the switch unless you can find a mechanical reason switch will not move. It is also possible the actuating lever has disengaged or broken.
This is a common issue with drills, you can resolve the issue by purchasing a new trigger switch and installing it. It is a very simple task. all you will need is a screwdriver and about 10 minutes.
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Manual appears to indicate it has a forward/reverse switch http://www.milwaukeetool.com/PartsAndService/DownloadManuals/All.aspx?ProductId=0200-20
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