Earlier quoted context omitted.
Yes, it is in fact a blanket protection against having to give testimony.
Providing a password is not testimony. You're not testifying to anything.
There have in fact been a few instances where judges have determined that providing a password does constitute giving testimony.
http://www.easterndistrictblog.com/?p=57
and older
http://mises.org/Community/blogs/crypto/archive/2007/12/18/c...