I couldn't get either Flash Format or Storage Tools to format my 128 or 32 meg storage cards. Both programs said they could not get exclusive access to the card. The programs seemed to run fine, I could do everything in the UI, except the actual formatting.
I found a German Freeware :D program that worked. It's simple and very basic but it worked.
http://www.palmtopmagazin.de/down/25...devicenumber=1
Edit: Should mention that I have an Ipaq 2215 rather than an Axim.