Dear ebbl,
Welcome! "Microsoft Fix it BLOG" seems to hold a shining ray of hope! Look up this link :
http://blogs.technet.com/fixit4me/ar...x-it-live.aspx
Excerpt taken out of the blog:"
0x8000FFFF usually represents “generic” failures for which the program is not able to identify the exact cause at the time the failure occurs.
You can check to see if the Volume Shadow Copy service is set to Manual and is not disabled.
Select Start
In the Start Search field type services.msc and press the enter key
In the Services console scroll down the list until you get to Volume Shadow Copy
If the service states it is Disabled in Startup Type column the double click to open the properties
Select the Startup type drop down list and select Manual
Click Ok
Close the services console
Attempt to run the backup again
This issue is a bit outside of the Windows Update Fix it that we released for the 0x8000FFFF error. If the above steps do not resolve your issue you can open a support incident by using the “Get Help Now” link at the top right of any of our Knowledge Base articles."
Best wishes!