I also have that icon, it's for the cable modem, I ignore it.
The 'safely remove hardware' icon keeps appearing on my bottom tray. I have installed and disabled, reinstalled...have had several discussions with HP regarding this issue, and still no resolution. Every suggestion initially worked. The icon reappears after reboot. The issue are my USB ports: 1) printer port, the other three are media ports. OS: Windows XP Media Center. Is anyone else out there having this problem? All comments and suggestions are appreciated.