First - how old of a Slayers disc? If it's 2.5 or 2.6, it should be easy to reformat (there is an option for it in the menu). I'm not familier with any versions older than that, so you would have to test your luck.
If you're using an older version, spend some time upgrading. Version 2.6 was just released a few days ago, with updated apps and tools, and is a great utility, in my opinion.
If you're STILL having problems after trying to reformat and/or upgrade, Slayers has their own support forum located at http://slayer.xbox-scene.com
Moved to newbie chat :-\