A solution in the following forums have worked for other ioSafe Solo users. It suggests that when you erase the hard disk drive, you should select the "MacOS Extended (journaled)" volume format.
http://www.mac-forums.com/forums/switcher-hangout/21672-how-format-ntfs-hard-disk-mac-format.html
http://www.youtube.com/watch?v=TMd0E2MVbw0
The most common solution has been to perform the erase and format in the GUID tab instead of the ERASE tab. Below is a snippet extracted from one of the forums:
"Just went over to the partition tab, and set up a single partition and changed the option to GUID partition table... OSX extended (journaled) and it worked fine... but yes it errored out if I tried to do it on the Erase tab, since I had to change it over to GUID."
There have been several reports that certain versions of the MacOS have great difficulty formatting USB devices. It appears that Apple's solution was to boot from older versions of the MacOS disk:
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