Recently my wife’s brand new Cuttlebug V2 embosser lost an internal gear and quit working. After searching the internet, she discovered it is a known problem. The manufacture was awesome, they sent her a new one for free and let her keep the old one. We decided to repair it and keep it as a backup in case the newer one breaks after the warranty is expired.
As with most cases found searching the internet, a gear, washer and screw falls out the bottom. On ours the washer was missing. I went to the hardware store and got a basic #6 flat washer.
This repair is for the newer model Cuttlebug only. If you have the older version, this link might be of help. Also, this is posted as a reference to this repair only. I do not know any thing else about the CuttleBug or repairs, it is my wifes CuttleBug.