The drive is formatted FAT32, the truecrypt drive is NTFS.
TrueCrypt does not change the underlying file system. Even TrueCrypt cannot see a partition or drive until it is mounted, it only sees the underlying file system, in your case, FAT32.
The drive you purchased was preformatted FAT32. TrueCrypt wrote data on the FAT32 drive. When mounted this is a NTFS drive. When not mounted only information about the underlying file system, FAT32, is available.