Answers.Microsoft.com :

This issue occurs if the Windows file system transaction log is corrupted. The Windows file system uses the transaction log to recover system transactions when a file error occurs.The Common Log File System (CLFS) transaction logs may be left in an inconsistent state. When the CLFS transaction logs are in an inconsistent state.
To resolve this problem, delete the .blf files and the .regtrans-ms files from the %Windir%\System32\SMI\Store\Machine folder.
After you restart the computer, the registry regenerates the deleted files. These regenerated files are in a consistent state.
   1.     Click Start , type cmd in the Start Search box, and then right-click cmd in the Programs list.

2.     Click Run as administrator, and then click Continue.
If you are prompted for an administrator password or for confirmation, type the password, or click Allow.

3.     At a command prompt, type the following command, and then press ENTER:
fsutil resource setautoreset true c:\
Note These steps assume that Windows is installed in the default location, on drive C. If this is not the case, adjust the drive letter of the folder path to match your configuration.

4.     Restart the computer

http://answers.microsoft.com/en-us/windows/forum/windows_7-performance/i-receive-the-error-the-default-transaction/d5c78d99-0b4d-e011-8dfc-68b599b31bf5

Unfortunately, this did not correct the problem.  Any other ideas?

Could it be related to this issue?  http://kb.vmware.com/selfservice/microsites/search.do?language=en_US&cmd=displayKC&externalId=2006849

Thanks but I don't believe this would apply as we do not use VMware.

could you give a complete error message with the xml?

There are typically 7 warnings for Event 57 that appear along with one error for Event 137 that occur 5 -8 times per day on the server in the system event log.  The contents of the warning/error are below.

Log Name:      System
Source:        Ntfs
Date:          5/23/2013 4:15:16 AM
Event ID:      57
Task Category: (2)
Level:         Warning
Keywords:      Classic
User:          N/A
Computer:      XXXX.domain.local
Description:
The system failed to flush data to the transaction log. Corruption may occur.
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
  <System>
    <Provider Name="Ntfs" />
    <EventID Qualifiers="32772">57</EventID>
    <Level>3</Level>
    <Task>2</Task>
    <Keywords>0x80000000000000</Keywords>
    <TimeCreated SystemTime="2013-05-23T08:15:16.356061800Z" />
    <EventRecordID>605176</EventRecordID>
    <Channel>System</Channel>
    <Computer>XXX.domain.local</Computer>
    <Security />
  </System>
  <EventData>
    <Data>
    </Data>
    <Binary>0000000001000000020000003900048000000000A20000C000000000000000000000000000000000</Binary>
  </EventData>
</Event>

*****************************************************************
Log Name:      System
Source:        Ntfs
Date:          5/23/2013 4:15:16 AM
Event ID:      137
Task Category: (2)
Level:         Error
Keywords:      Classic
User:          N/A
Computer:      XXX.domain.local
Description:
The default transaction resource manager on volume \Device\00000103 encountered a non-retryable error and could not start.  The data contains the error code.
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
  <System>
    <Provider Name="Ntfs" />
    <EventID Qualifiers="49156">137</EventID>
    <Level>2</Level>
    <Task>2</Task>
    <Keywords>0x80000000000000</Keywords>
    <TimeCreated SystemTime="2013-05-23T08:15:16.205046700Z" />
    <EventRecordID>605173</EventRecordID>
    <Channel>System</Channel>
    <Computer>XXX.domain.local</Computer>
    <Security />
  </System>
  <EventData>
    <Data>
    </Data>
    <Data>\Device\00000103</Data>
    <Binary>1C0004000200300002000000890004C000000000220000C000000000000000000000000000000000220000C0</Binary>
  </EventData>
</Event>

I'm having the same / similar issue on a 2008 R2 File and Print server, however I don't believe it's related to Exchange. :

Event_ID:  137
Source: NTFS  
The default transaction resource manager on volume \\?\Volume{bf7438b5-c1c8-11e3-ad7c-c81f66d8dd54} encountered a non-retryable error and could not start.  The data contains the error code.

There are 8 accompanying

EventID: 57
Source:NTFS
The system failed to flush data to the transaction log. Corruption may occur.

It has only occurred twice thus far (1/9 & 1/15) but both times the result was no external response from the server (No shares / Printers / RDP) At first glance my Windows Sever Backup (to remote shared storage) may either be a culprit or another symptom. Backups have begun between and 15 minutes to 1 hr before these events occurred and subsequently failed moments before the events were logged.

Errors on the WSB backup job are:

One of the backup files could not be created. Detailed error: The specified network name is no longer available.

Other recent changes to this server include the addition of both HyperV roles and RDP services.

As some first steps I'm going to try:

http://answers.microsoft.com/en-us/windows/forum/windows_7-performance/i-receive-the-error-the-default-transaction/d5c78d99-0b4d-e011-8dfc-68b599b31bf5 

Complete check disk on all volumes

Removing the recently added roles (hyperV / WSB getting confused about handling VHDs?)

Preventing redirected local drives through RDP (GPO)

I will advise on any Success or Failure. Any thoughts / help are appreciated

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