Update (1-4-12)
Per the comment from Simon Gallagher below it appears there is now an official firmware update for the original IX4-200D to make it Lion compatible without any need to make it a “Cloud Edition”.
The content of the original post with links and instructions has been willingly removed. As it turns out I was never supposed to have been given this fix by Iomega Support, let alone share it with others. However, I am not a huge fan of 404 pages on any website, so I decided after sleeping on it to continue to keep the permalink and comments, but remove the content.
I do want to be perfectly clear that I was in fact given the fix instructions, and the code image links by Iomega Support and I have the emails to that effect. It was not hacked, stolen, borrowed, or obtained in any other manner than by simply opening a support ticket with them directly. I was not told this was ‘BETA” code, nor was I informed of the failure rates, or that this would in any way void my warranty. I can also say that no place in the installer of the USB Image was there a dialog stating either of the above. So if this was given out to “A Limited number of users”, we the users were not given the full breadth of information about this update. I did review the support transcript E-Mail, which I still have a copy of, and it does in fact ask to not share with others, so for that I am sorry, to those that used the information I provided with poor results. That was my mistake and in my joy to see that it had worked I got a bit over zealous and did not read the fine print.
That being said, simply asking someone not to share, and telling one they are explicitly bound by agreement to use BETA code, but not telling them that are very different things. I have never, and will never share process or code that I am contractually obligated not to as part of any BETA, usability testing, or other internal program. That would just be stupid of me for sure, and I would never put myself on the line like that. I value my reputation in the community and in this industry. In this case simply being asked not to share it seemed like a minor request which I thought was just more of a formality. Had I been explicitly told of the validity of the code, and that I was now a BETA tester, I would certainly not have done that.
The fact remains I was not given all the facts. This has been a series of misfortunate mistakes by multiple folks for sure. Lesson learned by everyone I think, but this still seems to be causing some pain for a lot of people, myself included. Currently I am still dealing with a bit of backlash on this and based on some of the comments so are other folks. I cannot apologize enough, but there really was no malicious intent here at all.
With that in mind if you have landed here hoping to see the instructions, those will remain removed along with the links to the Iomega KB and download, as they have been disabled by them and they no longer work. I will also NOT send this information via private E-Mail, so please do not send me an offline message asking to do so.
This has been an unfortunate set of circumstances, but I for one am pretty happy that mine is now Lion compatible, I had only hoped to help others get the same results. Sometimes the best laid plans blow up in our faces, but the blame cannot all be mine. I am sorry for the inconvenience to everyone.