I’m having exactly the same results - and am a bit annoyed! My system depends on Truecrypt (version 6.1 in my case now but I think it was 6.0a which tripped the alarm) and I have to disable the on-access scanner to even allow me to re-install the program.
“No Action” button does NOT take no action! (That needs fixing guys)
The exact same thing happened to me this morning. I also choose to take “no action”. And I, too, cannot run TrueCrypt anymore. No action should be no action, I’m pretty annoyed I now can’t access my encrypted volume anymore! >:(
But apart from me being annoyed… How to repair this?
I discovered that simply turning off Avast is enough to make TrueCrypt working again. Without reinstall. However, once you turn Avast on again, it will raise the Trojan Horse alarm, and TrueCrypt.exe cannot be started anymore. If you have already mounted a volume, that volume stays mounted and accessible. Also, as long as you don’t close TrueCrypt, you can keep mounting and unmounting volumes with Avast running.
So basically, at this moment I have to switch off Avast when I want to start up TrueCrypt.