It's possible that the controller isn't passing along the SMART info. If this drive is part of a RAID set, the controller won't pass the SMART info. You may want to try a different utliliy that can read SMART values, like speedfan or HDTune.
Thanks Hawkeye22. I installed the trail of HDTune Pro. It did not give me any errors on the SMART info. I ran the long health check in HDTune. Aswell as windows chk disk. Everything seems to be fine now.
So it seems like this was all a false alarm caused by seagate tools not working properly. Or atleast I hope this really is the case.