Not sure on other OS but on Vista I found the following worked for me.
make sure your network (BTHub4-*****) is set to private network rather than public on the network and sharing center page.
Click start then type \\192.168.1.254 in the start search box this opened up the network page which showed usb1 as a network location.
right click this icon and select map network drive.
select a drive letter as required then ensure reconnect at logon checked then finish
check in start>computer and the usb1 folder should be visible as a folder.
A point to note is that the disk should be in the FAT32 format as stated before.
Hope this helps
I think that everything byzalen has suggested has already been suggested and tried. I still haven't found and answer but if I do I'll let you know.
Are you still having this issue?
Can you open up a comand prompt and type ping 192.168.1.254
What are the results?
Also, what is the IP address of your computer?