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I don't believe so, I've never seen my flash based devices on Partition Wizard. You're better off using the standard Disk Management program or formatting through context menus.
A Description of the Diskpart Command-Line Utility
Also you can find step by step how to make bootable USB keys if you want. In fact you can even stick your boot manager onto the USB key so if your HD boot manager gets hosed, you can use the USB to select which OS to boot just like the old Linux floppy boot trick.