itunes 11.3.1 does not remove exclamation point after changing library location, with that IOS Remote does not show my songs
iCloud_calendar-OTHER, Mac OS X (10.7.2), iCloud.com server error 507
The relocated library has to be a folder called 'Itunes Media'. I had first set it to the 'music' folder inside the 'Itunes media' folder because I only use itunes for music.
Please provide full background to the problem. I suspect you are trying to re-link tracks using iTunes preferences and that is not how you do it. The best way depends upon what you were trying to achieve and what you actually did.
What are the iTunes library files? - http://support.apple.com/kb/HT1660
More on iTunes library files and what they do - http://en.wikipedia.org/wiki/ITunes#Media_management
What are all those iTunes files? - http://www.macworld.com/article/139974/2009/04/itunes_files.html
Where are my iTunes files located? - http://support.apple.com/kb/ht1391
iTunes 9 [and later]: Understanding iTunes Media Organization - http://support.apple.com/kb/ht3847 - plus supplemental information about organizing to new structure https://discussions.apple.com/thread/6477809?answerId=26404702022#26404702022
Image of folder structure and explanation of different iTunes versions (turingtest2 post) - https://discussions.apple.com/docs/DOC-7392 - and making an iTunes library portable.
itunes 11.3.1, itunes does not remove exclamation point after changing library location, with that IOS Remote does not show my songs
