I have a similiar problem
I use a laptop and an external HD. However, I only use hoster program for currently only 464 songs an another program for the other 52000 because of importing problems. Anyway, I keep my 464 kma files on my C drive of the laptop. I import the songs and they all show up. However, if I delete my songs file and songs backup file in the database folder and then reload Hoster it should look where they are stored and rebuild. If I go and look in the folder for the kma's they are all there. I believe that everything is pointing in the right direction. This has now happened twice after a rebuild.
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