I've been looking for a good truecrypt replacement, but this unfortunately isn't it (yet at least).
1) Closed source. I can't take security software seriously without the source code.
2) Windows only. Ditto for the above
3) There's no point in encrypting a folder with N files to result in N encrypted files. It's always more cryptographically sane to create a large block of data (as truecrypt did) rather than reveal information about how many inputs there were and allow people to correlate them.
Those three issues mean I won't be using this (especially the open source bit).