Unfortunately their manual is very superficial when explaining the LED codes. If you connect your laptop to the same port, is it able to connect to the internet?
just to note, the 40 Second reset does different things depending on which interweb page you read. For the Single bay My Cloud and the My Cloud Home it does different things.
40 Second reset on the My Cloud Home does this… This function will demote the Device Owner to a Device User in order to change ownership of the My Cloud Home device.