Seems that the (external) driver is buggy and is causing your system to crash; you're not alone.(1)
To undo the thing you should remove the driver you compiled (it should be called mt7601Usta.ko, and live somewhere under /lib/modules/3.13.0-24-generic/kernel/drivers/net (adapt for your kernel version). After that, depmod -a and a reboot should let you as before (I mean, no wifi but no kernel panics).
(1) which is not surprising; the driver has a date of September 2013, and the linux kernel evolves really fast. This is a problem of out-of-tree drivers; they must be really developed and cared of day-by-day to be useful. Bug the manufacturer so that they add the driver to the official kernel tree...