Using Mybook Essential as Mybook Live Safe Point

I have a Mybook essential hooked up to my iMac and I have shared the drive by right clicking on the drive->Get Info->Checking Shared Box.  However, the drive is not appearing in the dashboard when searching for shared drives.  The manual says that hard drives connected to a computer via USB will work but thus far no luck.  Any suggestions?

The drive should work without been shared on the LAN

did you try removing the shared settings ?

Change the drive letter and see if it will pick it up 

The drive does not show up when shared or not shared.  Can’t change the driver letter as on OSX there are no driver letters.

I called customer service.  They stated the issue is with the SMB protocol in OSX 10.7.  Bascially the feature is not compatible with 10.7+ .  If anybody learns otherwise let me know.