If it says v385 then it's referring to the system menu 3.4U being missing. Preloader is really only compatible with 3.2 and 4.0 so that's why it's causing you trouble and has probably removed the system menu.
Before you proceed make 100% sure it says v385 and not something else, it's critical.
Load HBC, load Wad manager from it and with it install System Menu v385 wad. You can find a copy in my mediafire, click on my signature and go to the System Menu folder. This will install a fresh copy of 3.4U system menu and should, fingers crossed, allow you to boot your Wii.
The only way to undo would be to use bootmii to restore a NAND from a previous back up but if you already had one you wouldn't be asking this question.