There is nothing within the Strategy 9.x product suite that can decrypt encrypted data from a data warehouse. All data retrieved from Strategy will be retrieved `As Is`, thus the process of decrypting the column must be done before retrieval.
A possible option is to have a warehouse specific function or procedure that is able to decrypt the data and that is able to be called using SQL. This function can then be called using pre-SQL (a VLDB property) or in an ApplySimple statement.
Another possible option is that the ODBC Driver and DSN can be configured to decrypt data once it is received by the Iserver machine but before it is passed to the actual Iserver itself. This would allow for data to be encrypted while it is transferred over the network and only decrypted on the destination machine.
In addition, if it is desired to make this decrypted data available only to specific users (or logins), it is possible to use connection mappings on top of these database function calls and have the procedure/function available only for those users or logins.