Can't connect to MyBook Live

On Mac (Snow Leopard-iMac and Lion-MacBook). my network shows up under Shared in Finder but won’t connect and can’t access files. 

Internet is working. Router ethernet to MyBook. Green light on. 

I tried to reset but I don’t even think that it actually reset when I hit the button. Should the LED light go off/go blue? Because it didn’t.

Please tell me it’s alright and I will get my files back!

The MBL’s reset button is more of a; “I will reset the root password, clear the owner’s password, set networking back to DHCP and reboot.”  No more and no less.

You need to keep the button pressed in for a second or two more than 4 seconds.