It should be possible to use that HD with your setup, but the limit for all partitions are that they have to be under TWO (2) gigabytes each and overall usage of the HD must be under FOUR (4) gigabytes.
So DON'T MAKE that 4G partition now. Good way to make things go well is to ALWAYS MAKE BOOT PARTITION UNDER 2G!
When you use HDToolBox to recognize and partition the HD you may see wrong total size of the HD in the info window (where you can push the "read from hd" button), but that doesn't matter. Just initialize the HD and then partition it.
