5: Start the Sheepsaver GUI. Hit the "add ..." button on the Volumes tab and type "/dev/disk2" as the path. Once done, hit start. With any luck at all when Sheepshaver comes up your drive will appear on the desktop.

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I got this far then lost you. The only GUI for OS X I could find is SheepShaversPrefs.app Clicking "add" opens a box that only allows you to search for disk images. Are you aware of a specific GUI app for OS X and SheepShaver? Otherwise this is a dead end.

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I used the SheepShaver 2.3 snapshot from this site. It includes a settings/launcher application called "SheepShaverGUI". I guess I remember seeing something on blog post about mounting the iMac drive... and there it is. Scroll down until you see this:

"SheepShaverGUI?? What about the new SheepShaver builds?" you are of course thinking. Good questions. Let's say that I launch either of the new SheepShaver applications and then choose the SheepShaver menu's Preferences... command, which opens the window below: ...

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Either download the older version and edit the configuration with it, or edit the ".sheepshaver_prefs" file in your home directory to manually add the "disk /dev/diskX" (X=whatever you got from following my instructions) line.

The ugly truth about computers is when you "simplify" GUI's by simply cutting out functionality and eliminating the ability for an "advanced" user to do what they want you're usually shooting yourself (and your users) in the foot. Apple does it all the time, I guess it's natural the Sheepshaver developers would too.