"safely remove and eject media" is mis-named. all it does is check whether (you can) safely remove the media - it does not do it for you.
I think that Eject is different, but see here for a debate as to whether they actually both do th e same thing. the debate references how Kindle devices behave.
http://superuser.com/questions/25474...move-and-eject
consulting microsoft:
"To safely remove a certain device, click the Safely Remove Hardware icon Picture of the Safely Remove Hardware icon, and then, in the list of devices, click the device that you want to remove. Windows will display a notification telling you it's safe to remove the device.
Note
You can also safely remove devices from the Computer folder. Click the Start button Picture of the Start button, click Computer, right-click the device you want to remove, and then click Eject."