No the actual message is "Using TrueCrypt" -> UTC -> Coordinated Universal Time. The real culprit are the time thieves as explained in the book "Momo and the Time Thieves".
There were vulnerabilities in the software, but nothing that allows the governments to break the encryption with. The Windows client had some privilege escalation attack but that doesn't allow decryption of data at rest. On Linux TrueCrypt is still fine to use, the only downside is, the password based key derivation function is starting to show it's age. However, provided your password is around 128 bits, that's not a problem.
Your mind will see what it wants.