If any of you have received this error before I hope that you were as completely baffled as I was. I hadn't done anything strange, but suddenly found myself not being able to update/commit/revert via TortoiseSVN, with each action resulting in this error being displayed even when I tried different folders. Also, the helpful icons which display which files and folders have changed decided to disappear as well. I tried cleaning up at the lowest levels possible, but still nothing seemed to solve the issue.
I resorted to backing up the files I thought I had changed, which luckily were not too many and deleting my entire top level folder and re-checking everything out. A colleague of mine then pointed me at Matthias Kettner's article regarding the same error at...
http://linuxproblem.org/art_22.html
...which makes it look like I should have tried cleaning up at the lowest level PLUS renaming/deleting the corrupted files as he mentioned.