well, i have been using time machine for a good year and a half. YESTERDAY, i experienced the same problem that you have. i repaired the hard disk, only to get an error message saying that the disk could not be repaired. restarted my computer, still no luck. i decided that i would have to erase the drive and start all my backups over. i tried to transfer all my movies from my external hard drive to my laptop, and no luck ( i just kept on getting a beach ball)

getting impatient, i decided to open up my drive. i looked inside, and saw that a plastic piece was out of place. after twenty minutes of deciding where the hell this plastic piece belonged, i saw that it held the actual hard drive in together. after reassembling my hard drive, i tried one more time. still, no luck. went online, obtained an RMA number from western digital, and i plan on shipping out my drive tomorrow. even though they do not cover lost data, hopefully i can get some sort of compensation (just dreaming btw). so if i were U, i would make sure u have the latest drivers, try to repair your disk, and restart your computer. *** also, when was the last time that you backed up. the last time you backed up, did u by any chance transfer a big file. transferring many files or waiting a long time in between backups makes time machine have to essentially "refind" everything. be patient and wait for a couple hours. good luck