Deleting the LenovoEMCStorageManager-username file (latest version got renamed Version: 1.4.4.14439) in my ~ (home) driectory worked as well. I'm not exactly sure why the files existence or contents matter. Maybe some detritus leftover from an ungraceful shutdown.
Further I was monitoring the console and there were no erros thrown. Definitely could use some improvement on error reporting under these circumstances.
I have a Iomega/Leveno PX12-350R configured with 12 - 3TB drives and mount a large share off it in 4-5 place. The deivce performance has been great. I've had independent 3 writers/computers hitting it pretty hard and one reading and it performed well. Everything is tied together on 1Gb switch behind the router - ariport extreme.