I'm glad it's working for you on your TF700! Exfat only doesn't work for me so I'm sticking with class 6 cards. Here's how I converted the class 10 card and the root of its problems:
Sucessfully converting a Class 10 64gb MicroSd to NTFS or Fat32
Again, glad it's working for you.
32gb Transformer 101 & 201 with dock
Samsung Galaxy S3
eee 1215 netbook
Nexus 7 32gb
Microsoft is doing everything in their power from using these larger cards without you paying them $$$. SD cards (ANY KIND) are just block devices. They can be formatted to any file system the formatting device supports. Microsoft has disabled fat32 format in their own software to force the issue, and has paid SanDisk to add a partition to so you can't mounting it normally, but you can always use non-Microsoft software to get around this. Follow thenrik's link, and there is a easy to use Windows program that will format any 2TB or smaller SD card (again and kind of SD flash card), to fat32 or NTFS. The only limit on fat32 is file size must be less than 4GB. (no Blu-Ray! ;-) ) Now if you want Linux formats, you'll need a different tool, I know there is one a windows one, but don't have a link.
BTW, I bought one of these new Class 10 cards, and after using MiniTool, my TF201 still would not read it. I put it in my Bionic, and it worked fine, and the "old" Class 6 (???) that was in my bionic works fine in my TF201.
I think ASUS needs to look at their microSD card code a bit, as something seems just a bit flaky there. (I also swapped them back after the "new card worked in my Bionic, and still no joy)
The class 10 would flash an icon that it was mounting the card, then nothing.
BTW, what happened to the "format SD" command that use to be there? My Bionic doesn't have it anymore, either.