There seem to be some odd issue with "file location" information being reported over Media Server at the moment. Note the following problem that I reported in the build 93 thread (I think that this may be related to the issue you're seeing):
Bug Report: "Filename (path)" and "Filename (name)" fields have problems over Media Server:
When using Media Server, when I highlight any file, the "Filename (path)" field is blank and the "Filename (name)" field shows the ENTIRE path and filename (it should be just the file's "name"), and the path is from the SERVER, not the client (i.e. the path that you would see if you were using the server.) If I click on either of these field (which opens the edit box) and then immediately close the box again without making any changes, BOTH fields change. The "Filename (name)" field is now correct, but the "path" field now shows the server's path to the file (which is of course not correct since this is the client.)
If I highlight a different song and come back, the name and path fields are still correct, BUT the "blue note" icon is now replaced with a little "exploding 'X'" icon which I'm assuming is the new "missing file" icon. At this point, I can no longer play these files -- MC acts as if they're no longer present.
If I re-load the library, everything starts over again and I can once again play the files, but the fields are once again incorrect.
Larry