Ill try and answer both of these questions
craig1989
you may not see the drive in finder. please see the link below and let me know if you still are having issues. Since Time machine sees the drive you have the latest firmware, this may just be a network discovery issue with your Mac.
You cannot partition the drive. The TimeMachine partition is a virtual partition and will grow with the backup as necessary. There is no way to limit the size of this virtual partition.
http://wdc.custhelp.com/cgi-bin/wdc.cfg/php/enduser/std_adp.php?p_faqid=2686
Stormsash
If Time Machine does not see the drive you may not have the latest version of firmware. Please update or check your firmware version on the dirve and ensure you are at the latest version.
http://wdc.custhelp.com/cgi-bin/wdc.cfg/php/enduser/std_adp.php?p_faqid=3304
