Nevermind, first of all I was trying to run Vdisdmanager -k m: and not on the VMDK, second of all I had a mapped drive to m: and after net use m: /delete I got this error:
FILE: CreateEntryDirectory creation failure on 'M:\.lck': No such file or directory
FILE: FileIO_Lock on 'm:' failed: No such file or directory
Failed to open the disk 'm:' : A file was not found (0x3000900000004).
Failed to shrink the disk 'm:' : A file was not found (0x3000900000004).
This is on Server 2008, so the confusion lied in that I had two command prompts open to get the right privilage on the fs, one with my regular user token and the other with the admin token...