So, your ipad2 was able to connect, but can't connect any more? If it times out, that normally means one of a few things: A firewall on the computer is blocking access. The ipad isn't actually connected to the network. Or that the computer and the ipad are on two different networks. Some wireless routers have guest networks and "home" networks. If your ipad is on the guest network and the computer is on the "home" network, they won't be able to communicate.
It's worth rebooting the ipad if you haven't already. If that doesn't work, I would try surfing the web from the ipad. Then I'd double check the access key on the MC machine and the ipad. Or just use the IP address of the MC machine on the ipad, instead of the access key.
Maybe some of that will get you started in the right direction.
Brian.