Mybook World edition and Mac Time machine connection problem

I have a new MacBook pro running OS Lion. When I try to set up mybook world edition to Time Macine, I receive an error message saying “there was a problem connecting to the server “mybook world.local”.” These are the steps I go through: 1. Turn time machine on 2. Select WD_Backup from the list and choose “use backup disk,” 3. When prompted for name and password I use “admin” for both, since I haven’t changed any settings. I have tried alternative passwords, just in case, but with no success. 4. I also choose “registered user.” the alternative option is to use “guest.” I have also tried this withou success 5. When I click on “connect” I receive the error message as printed above: there was a problem connecting to the server mybook world.local. The version of the server you are trying to connect to is not supported. Please contact the system administrator to resolve the problem What am I doing wrong? Do I need to install some software/drivers first? This is the first time I have tried this on my new Mac. I had previously been using a PC. In short - how do I set up my Mac to auto-backup?! Thanks

Hi, check if you have the latest firmware version for the MBW.