No, I've tried this. FAT32 only.
You can format your ext hdd to FAT with Paragon Partition Manager. It's what I did, since Windows didn't let me choose FAT32. Works like a charm.
Windows can make FAT32 format only in HDD with 32 GB partition or less.
You can use this free software to format bigger partitions: http://www.compuapps.com/index.php?o...ent&Itemid=193
Or even easier; quicker and free: http://tokiwa.qee.jp/EN/Fat32Formatter/