April 2, 2015: Phase II analysis is completed and, pending an executive summary, TrueCrypt is Audited.
Open Crypto Audit Project - https://opencryptoaudit.org/
Link to report in pdf - https://opencryptoaudit.org/reports/TrueCrypt_Phase_II_NCC_OCAP_final.pdf
tl;dr from Matthew Green's blog
Based on this audit, Truecrypt appears to be a relatively well-designed piece of crypto software. The NCC audit found no evidence of deliberate backdoors, or any severe design flaws that will make the software insecure in most instances.
That doesn't mean Truecrypt is perfect. The auditors did find a few glitches and some incautious programming -- leading to a couple of issues that could, in the right circumstances, cause Truecrypt to give less assurance than we'd like it to.
Going to continue using Truecrypt although Veracrypt is promising.