T racks is a stand alone audio software program that allows you to play with your mixes when they are done. It is in the users opinion whether it is actually comparable to professionl results or not....but in general is thought of as a consumer level product, that does well FOR WHAT IT IS, but is NOT a replacment, for a professional mastering job. T racks is extremely user friendly, but it is also VERY possible to make your stuff ending up sounding worse than when you started...especially if your playback system is skewed, and your ears are not really *trained* to do such a "final icing" kinda task. Being compatable with ProTools, is kinda a strange statement, as Protools is a completely different style of program, geared for other tasks, in general. T racks can handle a .wav file created from ANY software program. Many of these software programs have demos you can download, and that would be the suggestion....to see if you like it on a trial basis first, before you go out and buy it.
Personally, I have T racks, but have NEVER had success in making a final mix actually sound better using it...and believe me, I've tried using it alot. I am a firm believer that a good mix usually is not helped with programs of the quality. I think there are much better programs, albeit more costly, such as the Waves bundles, that do a far superior job.
If you are serious about your music, and plan commercial release of it, your kidding yourself to think you can skip a professional mastering job. You can get close at home...but that's the entirety of it...you just get close.