Time Machine backup permissions set to 711 after a restore
I manually changed the permissions and now all is well. I can once again see the old backup and restore. Used the following commands.

cd /Volumes/TM/backups.backupdb
chmod -N hd
chown root:wheel hd
chown +a 'group:everyone deny add_file,delete,add_subdirectory,delete_child,writeattr,writeextattr,chown' hd

tmutil associatedisk -a /Volumes/TM /Volumes/TM/Backups.backupdb/hd/2012-11-08-145609