At the moment, no. The disk will no longer mount under anything, even to attempt a re-format. Clearly, this is far from a simple procedure and not for everyone. I'm going to attempt to reformat it under my SCSI ZIP with a vintage Mac. I am starting to think that ZIP disks may have a delicate relationship with Snow Leopard and even OS X in general. There was full functionality from 8.6 to 10.2. But, from Panther to Tiger, Iomega indicates the drivers are included in OS X, and post a list of disclaimers about what won't work anymore. Leopard has a similar disclaimer, but a Snow Leopard update which doesn't specifically mention the ZIP 100.
Also, I see that a year ago this topic was presciently covered by Low End Mac. At least with Leopard, this article reports good success using "dd" with USB floppy disks.