By now, I've tried a few strategies for using TrueCrypt to encrypt the entirety of a 500GB external USB drive, but I'm not having any luck. I've tried formatting the drive prior to encryption and after encryption, but neither works. I haven't updated my kernel yet, so that could very well be the problem. I've created an account on the TrueCrypt user forum, and I will begin asking some questions there soon. I could be making some kind of silly mistake. TrueCrypt worked ouf-of-the-box on another distro I used to use, so I'm new to troubleshooting the program. Meanwhile, I'll next be trying to encrypt some container files instead of the entire drive, and see how it goes.
By the way, this post is not really a bug report. I don't have any reason to suspect that there is any problem with the packaging. I'm just reporting my results thus far.