I wish I could also detect the FAT32 card when booting up from mx SFS CF card, but I think that's a subject for a new thread.
Did you try going to format, as sometimes it does not show, so you have to go to format and format it there.
Also, did you check if the SFS CF has card patches in startup sequence. Some cofigs need them, other wont see pcmcia if they are there.
I have also found on 3.2, if I insert card, it doesnt show. I have to remove adapter, remove card from adapter. Plug just adapter in, wait a few seconds then insert CF card. It then shows up.