The rear lens element on the 70-300L protrudes too far out of the lens and will hit the element on Canon Extenders, the only option are to use the Kenko extenders, such as this one:
http://www.adorama.com/KN14XPEOSDGX.html
Using this extender will result in one stop loss of light, meaning the lens will only have f5.6-8 through the zoom range. AF can still work in well lit cases, but my understanding is that it is slower and possibly less accurate, and it will only work on center point. I have debated getting this, but I just got the lens so right now I am working with it as it comes and then deciding if I really need that extra reach. The lens is so sharp that you get a ton of "crop zoom" ability with still great looking images.
Using a 2x extender will result in 2 stops loss of light, meaning it will be f/8-11 through the zoom range and there will no autofocus at all.
Not sure why the red face, it is clearly listed on the website, every review of the lens mentions it, and the manual which you can download before buying the lens also states that it doesn't work with Canon extenders.
That said, the lens without any extender madness is fantastic and I am really enjoying mine.