Summary: If you read the text file in the linux folder, it recommends activating in Windows. I suggest that as well. Windows has a GUI, where as the linux, it is command line. Once activated with a password, the below Ubuntu procedure just works. For Win7 the auto run will prompt you to run the windows software. The software is hard code and read only on the device. It does not get installed on the PC. Here it will setup the password and format the drive.
Pros: I just received this device. Out of the box it works flawlessly with Ubuntu x64 and Windows 7 64. Very well built unit. Rubber sealed cap that actually holds it on fairly tight.
Cons: A little expensive. However if you need the protection, I dont think there is a better device available. Yes, bigger and heavier than most USB drives, but that is OK, harder to loose.