I know this post was started some time ago but I just started having the same problem with Windows 10 and 7. When you look in Network the entry for HH4 (or HH5) in "Other Devices" dissapears and reappears every few seconds. It didn't do this two months ago.
As I use regular ghost imaging of my C: drives I reinstalled an older build of windows 10 from a couple of months ago when it didn't flash. I then reloaded more recent builds until the "flashing" happened again.
The only thing that I had installed for that problematic build was a copy of WD Smartware to control backups for my new Western Digital 3TB "My Cloud" NAS device. I had installed it on the two machines that showed the problem. I then reinstalled my latest windows 10 build, checked HH4 was still "flashing" and then uninstalled WD Smartware. The flashing of the HH4 in "Network Other Devices" stopped and went back to normal. As a final test I reinstalled WD Smartware and it flashed again.
I think this proves that the problem is to do with WD Smartware, I need to do more work to see if is caused by somthing I can configure or stop without affecting the functionality of the software. I have already had a conflict between the Twonky Server in the NAS and my network aware Humax Freeview box rebooting.
Just thought I would post my findings as it may help someone else.
If anybody has come up with a solution please post it.
It seems you have pin-pointed the source of the issue. I do have a WD NAS which may have installed the 'Smartware' software on my computer - I can't say for sure as I didn't actually use it if it was installed.
I have since cleaned/reinstalled all my software and don't have the Network display issue anymore - that may be because I didn't explicitly install (re-install?) any WD software.
Glad you posted, and it may be useful for others who come across this issue.
Well spotted! In my case it was the software to change settings on a WD USB hard drive. Uninstalling seems to have fixed it. Thanks!