We had similar issue to both of our SharePoint servers today. We had to reboot them in order to resolve. Does anybody have any advice on better way to resolve than reboot servers (during business hours), thanks
make sure to get msms 3.0 with hf 941583 installed. that should address the issue you are seeing.
We had the same issue with MSMS 3.0.
Problem was, the software was installed with EPO. You must not install with EPO. MSMS must be installed with a user who has full access rights on Sharepoint Portal Server.
Oherwise the GUI shows always "not connected"