I have tried.
My working copy is based on but a modified version of
svn://foo.net/svn/repo/branch/yyy
I want to diff against branch xxx. I have tried
svn diff --old=svn://foo.net/svn/repo/branch/xxx --new=.
but that only seems like shorthand for
svn diff --old=svn://foo.net/svn/repo/branch/xxx --new=svn://foo.net/svn/repo/branch/yyy