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When trying to unmount a TrueCrypt volume you may get an error message saying that the volume is in use.

This is a bug in TrueCrypt prior to the 4.3a release, not TortoiseSVN.

They didn't send the required window messages so that apps holding open handles can close them. TSVNCache waits for these messages (windows itself sends them when e.g. unmounting a flash drive) and then closes the handles. TrueCrypt didn't send those, that's why you can't cleanly unmount those drives when TSVNCache is running.

In the meantime, here's another hint you can try:
If you mount drivecrypt always to the same drive letter, you can specify that path to the exclude list of the overlays (overlay page in the settings dialog). For example, if you always mount drivecrypt to g:\, put "g:\" into the "exclude paths" - next time the cache (TSVNCache.exe) starts up (kill it or next time you restart your computer), the cache won't monitor that drive anymore and therefore won't open any handles there.

Update
The bug is said to be fixed in the 4.3a release of TrueCrypt. Note that this version still identifies itself as simply 4.3 in the about box. The download, however, is "truecrypt-4.3a.zip.