If you are unlucky like me, then after upgrading from 10.6.8 to Mountain Lion 10.8, TrueCrypt stopped mounting the encrypted container, got out mac fuse error.
To fix it, you need to remove Mac Fuse (this is done through the Mac Fuse itself in System Preferences), and install
FUSE For OS X. When installing, I also chose to install an additional Compatibility Layer:
