I've updated my original Redmine TKLPatch to install Redmine v1.3.2. Along with Redmine, Rails and Rack are also upgraded for compatibility reasons.
I've tested this on my live VM (with tonnes of Redmine data in it!) and it applies fine. Although I've not yet tested applying it to an ISO I'd expect (hope?!) it also works in that context too.
Instructions/download link here: http://www.davidstephens.co.uk/2011/07/28/turnkey-linux-tklpatch-for-redmine-vm/
I've also created a GitHub repo for the patch, so if my blog ever dies (unlikely!) my hacky work will be preserved forever! It also means you should be able to install straight from my repo to your VM - full details in the GitHub repo page: