Ohloh doesn't pay any attention to your directory structure. Although trunk/branches/tags is pretty common, a large number of projects are (dis-)organized differently.
Ohloh's Subversion importer is pretty simple, and it doesn't understand branching at all. We follow only a single line of development, and that line of development cannot change its directory or URL.
There's no hard rule about what Ohloh will or won't allow you to import -- you can give us an URL to any directory, and we will run a report on it. However, giving Ohloh the tags directory or a very full branches directory is cruel. While a tag can be created with a single command in Subversion, it creates an entire virtual clone of the project at that point, which is a serious work burden for our brute-force importer.
[edit -- When you initially give an URL to Ohloh, we do an initial simple check to see if you are using the trunk/branches/tags structure, and will try to avoid including the branches and tags if we can. This is just to protect us from a casual mistake that sends one of our servers off the deep end for a week.]
Also, if you want to have an accurate count of the lines of code, you should only give Ohloh a single copy of your code. If you include branches and tags in the URL you give to Ohloh, you will have redundant copies of the code in your report.
Someday we hope to change all this. In the future, we'd like to process the entire repository to get the full activity history, so that we can show all commits on all branches. Then you can simply tell us which directory represents the current trunk for purposes of getting a total current line count. However, this kind of processing is pretty far down our development timeline at this point.
Robin