OK, I had the same problem with my 3000, I took it to the beach and after taking 3 pictures it showed the "NO CONNECTION" screen. I tried all of the "RESET" steps with no solution.
After a week I tried cleaning it and noticed that there was a small blue build up inside the USB port so I used a thin soft cloth and a really thin screwdriver to try and clean the port. I turned the camera on and I heard the shutter move and finally the camera worked fine. Also, I cleaned it while the camera was on and noticed that by moving the screwdriver the "no connection" screen would pop back up.
I realized that the seal must have been faulty and allowed the sea water to seep in just enough for the USB port to "short out" and make the camera think that there's a USB cable plugged in hence the shutter will not move when the NO CONNECTION screen pops up....
Now, I know this is probably not the best method, its the only way to do it with out having to pay for repairs or replacement. The warranty is voided because OLYMPUS can always say we were at fault for not ensuring the case was closed properly.