That's the Shadow C preventing you from formatting it. Slayers isn't for softmods.
The reason it normally worked is you weren't using Ndure/Knave in the past, both of them are protected from formatting, older softmods aren't.
To fix it you need to launch the game you modded it with (MA). Then boot the installer menu, which you may not have anymore since you tried to wipe the drive. If you can boot the installer menu you need to select to remove the softmod, then restore from rescue disc (if you try to restore from the HDD it will fail as you've wiped the files it needed for restoring). Then make your rescue disc and restore it.
You can use CASH v1.1 for a rescue disc if you want, it will load also, so you don't even need to use MA. Then follow the section "I'm softmodded w/Ndure v1.1.1", and "Format Ndure v1.1.1 to Stock". Take note of your kernel version!!! Then when you boot the installer select "remove softmod" then "restore from rescue disc" and select the correct kernel. Then it will shutdown and start it with CASH in the drive and go back to the section you were at "Format Ndure v1.1.1 to Stock" and finish the format (the protection is now removed, so you can format the drive).
If the gamesave is greyed out and you can't boot it, go into section "I'm softmodded w/Ndure v1.1" and use the option to copy the v1.1.1 saves over. That way you will have a gamesave that you can boot to remove the softmod.