1) what kind of formatting for usb device
2) what does error 116-708 mean?
I see no one has responded to this post yet. So, at this point I would recommend contacting your local Xerox Support Department to speak with a Product Specialist for more assistance. Please call 1-800-821-2797 or 1-800-835-6100.
I searched the Support page and found this article on USB requirements. The information I found on the the Fault code is that it is a Communication Error and you may need to call to speak to 2nd Level:1-800-821-2797.