$300 app can crack full-disk encryption on Macs, PCs

This looks to be the old firewire-DMA attack, with a similar thunderbolt-DMA implementation as well. I was of the impression that these attacks no longer worked since recent machines limit IO DMA access to RAM. Also, they would require the computer to be running (or at least suspended) to have any chance to work.

In short, sounds like a non-story.

The article claims that hibernation files are vulnerable when using Truecrypt, but according to the release notes from version 7, July 19 2010:

"As Windows XP and Windows 2003 do not provide any API for encryption of hibernation files, TrueCrypt has to modify undocumented components of Windows XP/2003 in order to allow users to encrypt hibernation files. Therefore, TrueCrypt cannot guarantee that Windows XP/2003 hibernation files will always be encrypted. Therefore, if you use Windows XP/2003 and want the hibernation file to be safely encrypted, we strongly recommend that you upgrade to Windows Vista or later and to TrueCrypt 7.0 or later. For more information, see the section Hibernation File. "

http://www.truecrypt.org/docs/?s=version-history