NOTE: I ended up writing out a long version of this and correcting a mistake, so this is substantially changed from the old answer.
If you're taking twisted differential operators in a complex power of a line bundle, Lc, then you should think of them as vector bundles/sheaves on the total space T of L minus its zero section, endowed with a flat connection that behaves specially along the fibers of the bundle projection map.
Special how? The action of mathbbC∗ by fiber rotation has a differential, which is a vector field on the total space that looks like tfracddt for any trivialization, where t is the coordinate on the fiber. One should take a connection where differentiating along this vector field integrates to an equivariant structure for mathbbC∗ (that is, it has integral eigenvalues).
To see this, note that mathbbC∗ -invariant functions on T are the same as functions on X. However, there are more mathbbC∗-invariant vector fields; there's a Lie algebra map from the sheaf Y of mathbbC∗-invariant vector fields on T to vector fields on X, but the kernel is given by functions times the vector field tfracddt (the action vector field for mathbbC∗). This element is central, since we're looking at mathbbC∗-invariant vector fields (which exactly means they commute with the action vector field). This is a central extension of Lie algebras, and Chern-Weil theory tells us that the first Chern class of the line bundle is the obstruction to splitting this extension. If you want to get very fancy, this gives a Lie algebroid over X, of a special type called a Picard Lie algebroid.
Now, we can think of sections of powers of this line bundle as functions on T with a fixed weight under mathbbC∗: the sections of Lc have weight c. So, on the sections of Lc, I have the relation (tfracddt−c)s=0, so the differential operators twisted by Lc are given by taking mathcalOX, the vector fields Y, letting them commute past each other in the usual way, and then imposing tfracddt−c=0.
Now, if c isn't an integer, then there aren't going to be any functions that satisfy this equation, but the description I gave of the TDO is fine. There's just nothing interesting to act on.
Well, except there might be. I could take some other D-module on T instead, and I would still get an action of the TDO on the sheaf of solutions to (tfracddt−c)s=0 in that D-module; this gives a functor from D-modules on T to twisted D-modules on X. This functor is an equivalence when restricted to the subcategory of D-modules where tfracddt−c integrates to a mathbbC∗-action (since you can always pull back a twisted D-module on X and get a D-module of this form on Y). Note that whether this vector field integrates only depends on the class of c modulo mathbbZ; if you track through these functors, the resulting equivalence between modules of TDOs is tensoring with the correct power of the line bundle.
Now, assume I have a simple holonomic twisted D-module; the corresponding mathbbC∗-equivariant D-module on T is also simple, so this is an intermediate extension of a mathbbC∗-equivariant local system on a locally closed subvariety T′ which is the preimage of some X′subsetX. The monodromy of a flat section of this local system around the fiber must be e2piic, so if c is irrational, the fundamental group of the fiber must inject into that of T′, whereas if c=a/b in lowest form, then the kernel of this map of fundamental groups can only contain loops at go around the fiber a multiple of b times (even then, you could have trouble depending on the structure of the fundamental group).
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