"Who's up for it ?"
Neither Google (no hit) nor Wikipedia [0]
You might want to provide a link to the softwares homepage as well as additional information?
Dear mod,
as you seem to moderate posts (of new user accounts??) I post here despite mailing:
Please update http://ycombinator.com/newswelcome.html to reflect that posts are moderated before being published (and in which cases) and the actual meaning of "You're submitting too fast. Please slow down. Thanks." (i.e. which frequency is 'OK' etc.).
It made your site easier to handle and so more attractive to users willing to abide the rules.
Have a look at DCPP (http://www.securstar.com/products_drivecryptpp.php , 125 US$), they do offer that for years.
As a Europe based company (HQ in Germany AFAIK) chances of backdoored/compromised software are a bit lower than with US based companies.
Also: Places where plausible deniability is of use are reducing over time (in GB they can put you to jail until /you/ proove your drive is /not/ encrypted, other countries will follow). PD does not help here bc 'they' know about PD and (see above). If your disk is not empty (zeroed) but wiped with RND you may have already bad luck. I doubt they do cryptanalysis to see if your RND is true RND or an encrypted disk (I used to use a raw disk editor and to overwrite the boot loader with random data, using the boot loader from CD or UDB stick).
[0] https://en.wikipedia.org/wiki/Comparison_of_disk_encryption_...