Is it possible to change the file system of an encrypted volume?
Yes, when mounted, TrueCrypt volumes can be formatted as FAT12, FAT16, FAT32, NTFS, or any other file system. TrueCrypt volumes behave as standard disk devices so you can right-click the device icon (for example in the ‘Computer’ or ‘My Computer’ list) and select ‘Format’. The actual volume contents will be lost. However, the whole volume will remain encrypted. If you format a TrueCrypt-encrypted partition when the TrueCrypt volume that the partition hosts is not mounted, then the volume will be destroyed, and the partition will not be encrypted anymore (it will be empty).