In Natty swap does not work. It has been corrupted and even gparted does not recognize its type. Maybe it is due Oneiric daily that I installed in the same computer and it uses the same partition as encrypted swap. (I have encrypted /home folder in both distributions.) Can Oneiric use this as encrypted swap, if I repartition the partition as linux-swap and use it unencrypted in Natty?
See the attached link as I think it might be a solution that you are looking for.
EncryptedFilesystemHowto3