I had the exact same problem in Server 2008 R2 and this is how I solved it:
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Right click on the folder you’re trying to restore from shadow copy and chose Previous Versions. Chose a date and click on Open.
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Right click on any file or folder within the previous folder and chose Properties. On the General tab copy what’s shown in ‘location’, e.g.:
\\localhost\D$\@GMT-2011.09.20-06.00.04\_Data
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Open cmd.exe and type in:
subst X: \\localhost\D$\@GMT-2011.09.20-06.00.04\_Data
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Open PowerShell and use robocopy to copy content of X: e.g.:
robocopy X: D:\Folder\ /E /COPYALL
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Check that all files have been copied.
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When finished type
subst X: /D
in the cmd (Command Prompt) window