How to reset the MBL

There is no protruding reset button but there is a small hole…is this for a papr clip or something like to push in a reset?

Hello, yes, the small hole in the back is the reset button, you can press it with a paper clip or something thin enough to fit in. Check page 125 of the manual for more information. 

My Book Live Manual

http://www.wdc.com/wdproducts/library/UM/ENG/4779-705058.pdf#page=130