Hi Nfodiz,
I have 3TB version of WDBL, not sure either it is version 1 or 2 but box is like this ( http://images.anandtech.com/doci/4952/mybook_box_575px.JPG))
Issue I had: typical no dashboard, SSH , but I had access to sever and DLNA.
First I debricked without data loss , whole process completed without any error but MBL light remained yellow.
http://community.wd.com/t5/My-Book-Live/GUIDE-How-to-unbrick-a-totally-dead-MBL/td-p/435724
then I debriced using Data wipe option from same thread , which raised error several errors
./debrick.sh rootfs.img /dev/sda destroy
warnings like block size and file
could not complete the process due to errors , but rsulted all partiations were deleted.
then I Version 2 solution for 3TB. first it raised error while mounting the usb (no clean system however i used clean 350 hdd formatted on ntfs)
following command , raised dd error 7+1 copied , (few mbs), plugged into the nas but light is stil static yellow.
I am newbiew to Linux stuff so not have much info , would be greatfull if you guide to make MBL re-alive. Thanks
dd if=/mnt/usb/mybook3tb.img of=/dev/sda bs=1M