Turns out that it is a pathing issue...
Any coding that uses absolutes paths within a custom island that is no longer accurate will "break" the portals ability to modify settings within the control panel. Of course the content will also not display correctly.
The solution is simple, modify the absolute paths according to the new server information, and save the changes. Even though you will get an SQL Error message, if there are other broken paths, the changes are saved.
Once you have finished modifying all of the custom island paths, clear the cache from the Control Panel menu and presto, no more server errors.
Hope this helps.