You can start the TrueCrypt volume creation and then end the process. You will have a container that has enough setup to begin use.
1: Start the volume formatting. Allow it to run for a few seconds.
2: Open the Task Manager and kill off the TrueCrypt Format process.
3: Mount the newly created TrueCrypt volume and format it with the OS.
I am assuming that the process is named similar in OSX and Linux and the file creation and data seeding should be the same - I have not tested this under OSX or Linux.
*The container will not be the most secure as it has not been seeded with random data. You can however begin using it as you have successfully bypassed the formatting.
BTW TrueCrypt is alive and well: