In spite of properly setting up the windows shares and verifying that the content of the WORKSPACESETTINGS table is correct, Modernization Workbench still gives this error when trying to access from clients: "The Directory was removed or the Windows shares were changed."

Both clients and servers must have a 32-bit client installed, since Modernization Workbench is a 32-bit application, it cannot communicate with a 64-bit client.