This was a bit of a puzzler:
The puzzle was in exactly what search terms to use to find the right answer as our searches were turning up fluff.
Folks that went to recover content via Previous Versions (Volume Shadow Copy) saw the above list of snapshots where all were stamped at the time the Previous Versions tab was clicked.
One could then double click on any of the versions and the contents themselves would be what should be in the snapshot but the titles in Windows Explorer would be missing as well.
This is what they _should_ look like:
All that would be in the Address Bar was the folder name that the content was sitting in.
Thanks to Susan Bradley we were pointed in the right direction:
Note that no reboot of the SBS 2003 server is required.
We then browsed the file share from a Windows 2008 R2 Standard server and saw:
Folks will now be able to recover their content!
Microsoft Small Business Specialists
Co-Author: SBS 2008 Blueprint Book