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It seems like 真偽 and the second meaning for 虚実 have the same meaning, but are there any differences in how they're used?

真偽
真実と、いつわり。まことかうそか。「真偽のほどはわからない」

虚実
1 実質・実体のあることとないこと。  
2 うそとまこと。虚構と事実。「虚実とりまぜて語る」  
3 「虚虚実実」の略。

2

真実と、いつわり。まことかうそか。「真偽のほどはわからない」

On this one, you are saying you cannot conclude if a thing is true or false.

2 うそとまこと。虚構と事実。「虚実とりまぜて語る」

On this one, you are mixing up fiction and fact. It might imply exaggerating, a made-up story and so on.

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