NAS Adapter issues with external HDD and setting up time machine. Help

Okay so I recently purchased a Vantec NetStar FX NST-600NU to make my external 2TB hdd act as the time machines backup source which is to be accessed over my local network. I have read the instructional guide that has been provided with the product and honestly I am getting no where. I have tried all 3 connection techniques underneath the 'mac installation' and still get no connection to the actual device. I even logged into my router and accessed the settings to attain the i.p address with this in hand it still doesn't work!! The only thing It does show is that its a shared device in the computer column but once clicked on for access I get connection failed. I even select the 'connect as' option to manually log in with the login details required by the manual and its in effective. I am beginning to think that this was a waste of money. Can someone help me =)

For more information on this device I have provided a link to the manufactures website

http:/http://www.vantecusa.com/en/product/view_detail/448

Cheers and thanks in advanced =)