Bill,
The window should have done something like this:
If this part did not complete, it didn't get properly formatted. It is possible that it did complete and just went quickly, but from how it is behaving now, I would guess it did not.
In Symantec Encryption Desktop, does the disk show up under 'PGP Disk'? If so, when you click on it, do you get the option to mount it in the top right of the application?
Try to make a new virtual disk. Choose NTFS as the format and Expandable under Capacity. See what results you get. If you attempt to create a fixed size disk, it might have had an issue formatting that much space.