I can perform do the maintenance routine and it completes with no errors.
RAID maintenance notice
Target array:System field (md2)
RAID maintenance is complete.
[TeraStationInformation]
TeraStationName: TS5400R162 (TS5400R)
LAN1 MAC Address: B0:C7:45:9F:21:62
Time: 2014/11/18 12:30:53
(and yes the mail notifications work, this is taken from it)
But the raid is still in state "Failed".
Right now the entire device is useless since I cant delete or create RAID arrays.
I have tried booting the device many times. Also tried to turn it off, wait and turn it on again.