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Upstream has fixed two corruption bugs in multiwrite recently that need to backported. The upstream report was about crashes (on guest side) when trying to create a file system on images > 1 TB with virtio-blk.

Reproduced on qemu-kvm-0.12.1.2-2.62.el6
{"timestamp": {"seconds": 1275470571, "microseconds": 452025}, "event": "BLOCK_IO_ERROR", "data": {"device": "virtio1", "operation": "write", "action": "report"}}

Verified on qemu-kvm-0.12.1.2-2.68.el6

steps
1. create 1.2T qcow2 img
qemu-img create -f "qcow2" 1_2T.qcow2 1.2T
2. boot guest with 1_2T.qcow2 
/usr/libexec/qemu-kvm  -no-hpet -usbdevice tablet -rtc-td-hack -m 2G -smp 2 -drive file=/root/zhangjunyi/RHEL-Server-5.5-64-virtio.qcow2,if=virtio,boot=on,cache=none,werror=report,rerror=report -drive file=/root/zhangjunyi/1_2T.qcow2,if=virtio,cache=none,werror=report,rerror=report -net nic,vlan=0,macaddr=22:11:22:45:66:22,model=virtio -net tap,vlan=0,script=/etc/qemu-ifup -uuid `uuidgen` -cpu qemu64,+sse2 -balloon none -boot c -monitor stdio -vnc :10 -qmp tcp:0:4444,server,nowait
3. In guest
fdisk /dev/vdb
mkfs.ext3 /dev/vdb1

results:
No error in guest dmesg.

according to comment5,close this issue.