Sometimes when i eject my Ipod from Itunes and Open Ipod it says "No Content" however sometimes it works. I've found syncing a new song tends to work and get my content to show again.
Im using an Iphone 3GS using iOS 4.1 Jailbroken with sn0Breeze 2.0.1.
I had this problem with my old Ipod Touch running 3.1.3 and Restoring and jailbreaking to 4.0 fixed the problem.
What can i do? i'd really rather not restore but if i must i guess its better than getting this error.
Since you've had the same problem on two different i devices, both on different firmwares, I'd suggest the problem is with the iTunes program. So, try to uninstall then reinstall iTunes and see if that fixes the problem.