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The "Share With" feature usually applies to Homegroup folders, it should help to go through the C drive and use the NTFS sharing settings to remove the share.
Try going through the C drive then use the Advanced Sharing tab and the Security tab to remove the share's.
The "Share With" options are the ones you see when the folder is part of the Homegroup so I'm not sure why you would have those options on a data drive unless the drive was added to one of the Homegroup folders.
Going into the drive from the root should give you access to the NTFS share settings.
It may be required that you take ownership of the drive in order to change the permissions.
Take Ownership Shortcut
Chev, in my case "data drive" is my User and ProgramData folders, so part of the OS.
Danny, that box is already unchacked, but folder properties still say it is shared. OS installed this way: User Profiles - Create and Move During Windows 7 Installation
The only other problem might be that another folder or the drive itself is over riding the permissions you are setting on this subfolder. In this case you would go into the drive that contains this folder and remove the check mark to inherit child permissions.
It's near impossible to give precise directions here as I have no idea what permissions are set for folders further up in the hierarchy.
check this out, go to the manage window, in the left screen you can see the shared folders, you can unshare your folders there, check the following screen shot...
Drive as in root of the drive, not just a subfolder.
The only way this problem can occur is if the previously set permissions of the drive has the check mark to inherit child permissions, in which case any previously set permissions of the drive are being inherited by the folder you are having problems changing the permissions on.
Also, if you don't show up as the owner of this folder or drive it may help to take ownership.
Another problem appears to be that for some reason you aren't using the NTFS permissions on this folder and you seem to be stuck using the Homegroup permissions, I'm not sure why this is happening unless this drive or folder was somehow added to the Homegroup folders.
The details of this get fairly complicated although Brink's tutorial explains the process pretty well.
Permissions - Allow or Deny Users and Groups