This has been commented in previously. There are now TWO different single bay My Cloud models. The older version which uses v4.x firmware, and the newer version (which apparently has slightly different hardware) which uses the v2.x firmware. The newer v2.x versions have slight differences in the Dashboard, among them dropping the word Safepoint and using the word Backup even though the table of contents for the v2.x My Cloud User Manual still calls it Safepoint while in the actual chapter its called Backup.
v2.x My Cloud User Manual: http://www.wdc.com/wdproducts/library/UM/ENG/4779-705147.pdf
A past threads on the differences…
http://wdstagingsplit.staged-by-discourse.com/t/fw-versions/148668
