I checked the HP website, nothing about a floppy version of your tape drive. However, there is a parallel (external) version - maybe someone took the drive out of its case, installed it internally and hooked it up with an internal LPT port?
I searched the HP web site for a tape drive with a floppy interface (T3000) and found a couple of troubleshooting tips concerning floppy controllers, did you see those?
I think that in order to work properly the BIOS should be set at no device. Not disabled: the whole floppy controller would be disabled, but also not any type of floppy drive. I believe the floppy interface doesn't support PNP, so the drive attached to the interface doesn't trigger the new hardware wizard. Just start the HP Colorado Tape Drive setup program: it should find the drive (maybe you'll have to tell it the drive is at the floppy controller). Try removing the floppy disk drive - it may conflict. Try -if possible- both positions on the FDD cable. Check the LEDs on the drive; do they light, blink, what color? Do you get any errors?