I use WD MBL to stream movies on my Samsung Smart TV using Twonky Media Service. The problem really is that it seems WD does not moitor ongoing video stream, which most of the times make the streaming turn down in less than hour. Connection is lost, TV is unable to discover TM until I restart my TV. I have disabled ‘network power saving’ feature in MBL but that didnt help. I suspect there is no ‘keepalive handshake’ happening between the two, forcing the stream to die as WD is not monitoring realtime. This is very frustating, as I am never able to watch a full movie and always get interrupted in less than an hour.
Have you tried setting a static IP for the My Book live? Check page 66 of the manual for more information.