Mac OS 10.7.5 will not mount FAT32 volumes connected to the eSATA ports of this device. (FAT32 volumes mount fine in 10.6.8 and in 10.8.2 and later.)
As a workaround, you can manually mount volumes with the following procedure:
1) Open terminal (Applications > Utilities > Terminal)
2) Run the following command: diskutil list
Look for the target volume in the IDENTIFIER column. The volume will have a name like disk4s2.
3) Create a mount point by using the following terminal command: mkdir /Volumes/myvolume
Note: myvolume is the name of the mount point you will create and must be unique - for example, you cannot mkdir /Volumes/FAT if a volume named FAT is already mounted.
4) Mount the target volume with the command: sudo mount -t msdos /dev/disk4s2 /Volumes/myvolume
Note: disk4s2 is the from the IDENTIFIER column from step 2. myvolume is the unique name you chose in step 3.
The volume should now be mounted and is available for use. The volume must also be unmounted through terminal - finder will not be able to unmount the volume.
The command to unmount the volume is: sudo umount /Volumes/myvolume
where myvolume is the mount point you created in step 3.