After extensive googling I haven\'t managed to find an answer to this question1, which is surprising, since `security through obscurity\' isn\'t really security at al
"Security through obscurity" means relying on obscurity to achieve security. It does not mean you are insecure just because you do not advertise your security mechanisms to the world.
Apple presumably wants the freedom to change the implementation of the keychain, so its encryption is not part of its specification because it does not need to be.
That said, I seriously doubt Apple uses 3DES, because they actually know what they are doing. I would give 10-to-1 odds they use AES.
An authoritative answer can probably only come from Apple or from someone who has disassembled their code.