I recently upgraded my Xcode to 4.2. Since then my Organizer-Repository stopped working. Initially it said \"Host is unreachable\" and placed red dot every where.
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I have this same issue, with Xcode 4.2 (Build 4D199) being able to connect initially (green lights) then losing connection shortly after (red lights). But this only happens when I am connected to the same LAN as the SVN repository using a cable. If I switch to a wireless connection, Xcode is able to connect again (green lights). In all cases I am able to ping and connect to SVN using the terminal and other SVN tools. It is just Xcode that struggles. You could try going wireless or through VPN to bypass this problem.