We've successfully developed applications in Tersus while using both CVS (using the Eclipse CVS Client) and Subversion (using Subclipse, although I've also checked out Subversive). Other version control systems should also work, as long as an eclipse-based client is available.
If you're using Subclipse, you should also install the tersus.subclipse feature (from the update site http://updates.tersus.com/subclipse), which adds decorations to the repository and otherwise makes the studio subclipse-aware.
I'm working on a document covering some of the important aspects of team development, which I hope to publish in a few days.
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