On my Mac with OS 10.7.5
0 - Using "Voila" Application (because that is the App i already had for PrintScreen) I did Print Screens of my network space settings from "LaCie Network Assistant" / "Network Space 2" / "Web Access...", especially the "Network" part to have the ip address of my "Network Space 2" drive on the network (it was very useful later)
1 - I downloaded
a. " Network_Space_2_2.2.8.capsule " from " http://www.lacie.com/support/drivers/driver.htm?id=10200 "
b. " LaCie Network Assistant " from " http://www.lacie.com/support/drivers/driver.htm?id=10138 "
2 - I opened the "Applications" Folder; I selected the old application "LaCie Network Assistant" ; right-clicked and selected "move to trash"
3 - I installed the most up to date version of "LaCie Network Assistant" (which was 1.5.10 for the Mac version)
4 - I opened the new "LaCie Network Assistant", opened "Preferences", clicked on the button "Recovery Mode", and then chose the "Network_Space_2_2.2.8.capsule"... The network space 2 bottom front light started blinking blue and red for a good while (which i think means it was re-setting itself) then turned blue and kept blinking for a long while. At some point, i felt something was kind of doing an "endless loop", so I kind of stopped (sorry, I don't remember exactly what i did...) everything and restarted. It took quite a long time to connect to the Network Space (I almost lost patience at that point) but everything came back to normal.
I noticed that when I opened the "LaCie Network Assistant", it displayed "System Version 2.2.8" at the left bottom of "Configuration" Tab. I had to Set-up again from scratch the Network Space and, so far, I have NOT found anything that I had backed-up on the drive, but at least the drive is working again, and Time Machine is again able to connect to it! I'm sorry, much could be said about all the setups, but I think this is the essential!