1.7.4 Version of encfs (http://www.arg0.net/encfs) has problems with links on Mac OS X. This is a script to get a working version of encfs on Mountain Lion.
It uses Homebrew (http://mxcl.github.com/homebrew/) and osxfuse (http://osxfuse.github.com).
The script does the following: - check if homebrew is installed and install it. - check if macosx.fuse is installed and install it. - install encmacosxfuse brew formula including patch in homebrew. - install encmacosxfuse by calling brew.
After that you should have a working encfs in /usr/local/bin/.
If you want to use it for your Dropbox Documents directory you could use it like this:
encfs ~/Dropbox/Documents.encfs ~/Dropbox/Documents.secure -- -o volname="Documents"