Hi there,
I had exactly the same problem with the same OCZ Vertex SSD on an X200 and very fortunately I fixed it! pfew... I called the tech support, both in Germany and US and ... well... I am really dissapointed with this! The official response (twice!) is that Lenovo does not help you with password issues, even if you know them! Of course I stressed that I knew the password and that it was most likely a BIOS bug, but whatever, they thought that I should read the HMM and throw the disk away. I am a bit dissapointed now as I almost did throw the 700$ OCZ disk away for something that looks like a Lenovo bug...
So first thing to notice - hit Esc on the 0200 error - with the drive in an older T61 it still got over and it worked. On the X200 it didn't, although strangely grub managed to output an Error 15... but when booting from another disk, the kernel was complaining a lot about DRDYERR or something.
In BIOS the disk password field was grayed and could not get to it to change it from the "User" setting. I guess you have the same issue. This really looks like a Lenovo bug, as on the T61 it partially worked. Fortunately I stumbled upon a work-around method that worked for me:
1. Disable all passwords in BIOS that you can
2. Remove the disk
3. Get back to BIOS and in Security disable the passphrases (it's the first option on my X200) - this does not work if the disk is still in - some circular dependency probably.
4. Put the disk back in
5. Now in BIOS I could change the disk setting from User to Disabled
So it seems that disabling the passphrases made the BIOS not bother about asking for a disk password before entering the BIOS, which might be the cause of the grayed setting.
What I also observed is that when pluggin the disk in a stock, non Lenovo/Thinkpad workstation, that one saw the disk as being passworded - but the password was not accepted. So if this disk-password looks like a non-Thinkpad specific feature, is it that the Thinkpads are scrambling the passwords for some reasons?
Cheers,
-Dragos