After checking out the SVN repository, i found that the TortoiseSVN icon overlay does not work.
1. First, make sure you have enabled overlay icon set for Fixed drives as follow.
2. If that doesn’t fixed the problem, probably the reason is because of the limited number of overlay types. For Vista 32-bit, it could support 15 overlay types, whereas Windows 7 64-bit only supports 11.
3. A workaround is to delete some overlay icons and this could be done by open the Windows Registry.
4. Go to
HKEY_LOCAL_MACHINE
- SOFTWARE
- Microsoft
- Windows
- CurrentVersion
- Explorer
- ShellIconOverlayIdentifiers
5. I find that there are a few entries for SugarSync. I deleted them and retain only 9 overlay icons.
6. Reboot and check!
Done =)
Reference: Craig Buckler – How to Fix Missing TortoiseSVN File Status Icons in Windows
Eureka! 
Man… wish I had read your post before I tried all the other solutions. Thank you for taking the time to write this down, I think this is going to get more common given all cloud storage solutions out there now taking up those slots.
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You are welcome~
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Thanks for the details. Deleting Registry entry fixed the issue.
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This suggestion is still working like a charm! Page saved as a favourite for future ref. Thanks.
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