Twitter sends you email when users follow you, but unfollow is generally less conspicuous. However, Qwitter, which has been in the news lately, shows you who has unfollowed you, and also your tweet immediately before the unfollow.
They attempt to show you what tweet offended a follower (chances of the tweet being harmless are less). When someone unfollows, you get an email notification.

Qwitter: Get notified when users unfollow
Interestingly, Qwitter does not need a password or confirmation. All you need to do is to input your Twitter name and an email address. Note that it will only find unfollows once you have entered your username and an email ID.
I personally feel that the lack of any signup (or worse, giving in your Twitter credentials) will make a large number of curious folks signup to it in an impulse. Qwitter goes to our growing collection of websites which enhance your Twitter experience.
Related reading
- FaceYourManga.com: Create avatars for Twitter and IMs
- How to report Twitter spam quickly
- DestroyTwitter: AIR-based Twitter client
- Tweetpkr: Twitter in your sidebar, in a bookmarklet