First you have to install one hard disk inside at least. Press the power switch quickly to power up the unit (make sure the power LED is on, the device will be appeared in the Disk Utility. Without any setup on the mode, the RAID is defaulted to be JBOD (None RAID).
If the unit still cannot be seen in the computer, which probably happen in OS 10.7, and the firmware provided inside the SMART may need to be updated. In order to do so, you would need to prepare the following:

1) The SMART Unit
2) Its proper external Power Supply
3) The USB cable included in the package
4) One 3.5-inch SATA hard drive to be placed inside the SMART. Either disk location would work
5) A computer with a Windows operation system and an USB port

Once you have everything prepared and ready to go, please read the How to Update (PDF version) first on learning how to properly update the PAIR Unit and download the new FIRMWARE (zip format).