Same here, on two different systems. Can't get it to recognize an InCD formatted disk, and it won't format a disk either. It didn't crash anything, so that is good.
(I gotta stop trying these InCD versions and wait until you folks rave about one!)
Back to good ol v3.52.40, the last version that works without a single problem for me. I really like InCD and use the heck out of it moving files from work to home and back. I do appreciate AHEAD offering it and wish them the best of luck with the v4's.