Article here http://www.lightbluetouchpaper.org/2012/08/06/analysis-of-filevault-2-apples-full-disk-encryption/ links to their paper (PDF) http://eprint.iacr.org/2012/374.pdf on it.
They also offer link http://code.google.com/p/libfvde/ to software tool for recovery of files.
Thanks to Bruce Schneier for mentioning it on his blog, link http://www.schneier.com/blog/archives/2012/08/an_analysis_of.html, his comments are certainly worth reading as well (for those that don't know, Bruce was/is involved with Truecrypt).
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