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The issue you are describing could be related to remaining metadata on the drives for the RAID 5 you are creating. We recommend running a low level format on the drives you are using even if the drives are brand new. It is also recommended to have the latest firmware on the RAID controller and you can try creating the RAID array from the RAID BIOS just for troubleshooting purposes.
Thanks for your reply. To my knowledge, I have the latest f/w running on the RS2BL040 (2.130.393-3027 with ROM MR411.p) and the HDDs are indeed brand new. What got it working for me was simply to choose a different folder in which to save the .cfg file. In RWC2 it was defaulting to the RAID Web Console 2 folder in Program Files for the save location; I chose a different folder, and it saved just fine.