Somebody may correct me on this, but I just went through the same thing, so this might work for you. Dunno.
I deleted my MMOB files ON LANSHARE to recreate the database, and it didn't work right. I'm having some unrelated C: problems (too full), but just for kicks, I looked in the Avid folder on C: and deleted the MMOB, etc. in C:. Then the database rebuilt itself with no problems and my editor is working on his project again.
I have no idea if this will work for you or if indeed this is even the correct thing to do (although deleting the database files shouldn't harm anything). But it worked for me.
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