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When I said "click on the physical disk in DU", I did read the OP and I knew what I was saying.
I've had the similar annoyance with the WD external drive I got. It also had this infamous auto mounting partition with some tools I didn't need. I am pretty sure this USB stick follows the same partition scheme. What I did was:
- select the physical disk in the DU.
- re-partition it to "1 partition" with GUID partition scheme (selecting "current" doesn't yield the desired layout).
- ready. While the drive doesn't show the whole capacity, it also doesn't mount the unwanted partition. YMMV.

It wasn't until I bought DriveGenius3 that I was able to resize the partitions in order to shrink the unwanted one to 16 Mbytes, however the initial effect of repartitioning was still valid.
 
- select the physical disk in the DU.
- re-partition it to "1 partition" with GUID partition scheme (selecting "current" doesn't yield the desired layout).
- ready. While the drive doesn't show the whole capacity, it also doesn't mount the unwanted partition. YMMV.

I did exactly this, but it didn't work - the other partition still mounts. Do you know if Drive Genius has a trial version? The demo doesn't have all the features, repartition for example.
 
Certainly not - there is only the crippled trial, however the iParition is half that price (still way too much for a single-use tool). I can only suggest that:
either you find somebody with a full version of either of these and ask him to reparation the stick or,
http://gparted.sourceforge.net/livecd.php and try that… Never used it though.
 
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