I'm still stuck at this
I've done an update and dist-upgrade so should be at latest.
I've re-run Diskless_CreateTBZ.sh to create the new image.
Deleted the MD from the webadmin - reloaded the router and re-booted the core.
Then turn on MD, announces itself to the router and runs Diskless_Setup.sh
it runs another script (can't remember which right now) and reboots.
Its identified as an amd so I change this to i386 on the web-admin, rebuild image and reload router.
Then turn on MD again and I see it picking up the correct directory for the boot based on the MAC, then it loops as per the OP and gives up dropping into busybox.
What should /etc/exports look like so I can check if its updated correctly? I haven't changed my networking setup.