I had a had drive crash last month (a week after upgrading to Lion) and now it appears that my entire backups on Time Capsule have been corrupted. I am not sure if this was caused ny Lion, but the coincidence is too hard to ignore. My backups under Lion were looking normal until my MacBook HD crash.
I am getting all the errors mentioned in this thread. Someone at Apple Support suggested I use the Disk Utility to repair the TC, so I did it.
Then I came across this Apple article H4522 that says:
"Important: Do not use Disk Utility to erase, verify, or repair a Time Capsule disk. "
Apple has not been a big help so far. I used Airport to archive my TimeCapsule to another USB disk, and then connecting direct to my MacBook to see if I could see any of my files. It appears that it is in sparsebundle format and I don't know how to convert it back to a useful format. I took it to the Genius bar, and the guy said "you have a lot of music files on here in a folder called 'bands'"
Good luck, and be sure that Lion is actually not corrupting your Time Capsule. You'll never know until you try to get it back
DJ