I admit I haven't updated my working copy on this Linux machine in some time, but I do know that we had some symlink changes in recent history that broke Subversion 1.7.0 on Windows with a similar assertion to the following. Upgrading to Subversion 1.7.2 on Windows fixed the assertion.
However, now that I've gone to update on Linux, I get the following assertion: svn: E235000: In file 'subversion/libsvn_wc/update_editor.c' line 1583: assertion failed (action == svn_wc_conflict_action_edit || action == svn_wc_conflict_action_delete || action == svn_wc_conflict_action_replace) Deleting the directories containing the symlinks allows "svn update" to complete. Perhaps the above assertion is the same as http://mail-archives.apache.org/mod_mbox/subversion-dev/201201.mbox/%3c20120101235241.gb10...@ted.stsp.name%3E?