After raising over $70,000 from the community in October 2013, progress on the TrueCrypt audit has been fitful at best. The last update on http://istruecryptauditedyet.com was April 14, 2014.
Two key contributors, Matthew Green (https://twitter.com/matthew_d_green) and Kenn White (https://twitter.com/kennwhite) remain active on Twitter.
I am aware of VeraCrypt and CipherShed but these appear orthogonal to the original audit.
Does anyone know what the heck is going on?