It says derived programs shouldn't be called "TrueCrypt" and shouldn't be ascribed to the original publishers, which honestly seem like pretty mild requirements.
So they are right off on the wrong foot, with that domain name.
I belive any TrueCrypt fork should require contributions to be dual licensed under TrueCrypt's original license and BSD. In time, the project can shed original files and re-implement them under BSD or any other GPL compatible license.
So far there isn't any derived code. The truecrypt.ch domain seems a reasonable place for people to regroup. If/when a new release comes out, the community can think about a new name and register a new domain.
The Truecrypt licenses also say that it cannot be sold, which makes it non-free and non open source. The OSI even said, "it is not at all appropriate for [TrueCrypt] to describe itself as 'open source.'"
The big issue was the clause that didn't protect those who forked from copyright infringement or being sued and the devs said that was intentional. Although, i doubt they'd really want to come out and make themselves public to pursue that.
I belive any TrueCrypt fork should require contributions to be dual licensed under TrueCrypt's original license and BSD. In time, the project can shed original files and re-implement them under BSD or any other GPL compatible license.