You can get a good idea of how it works by reading the manual.
http://www.racelogic.co.uk/?show=Traction_Control-Technical-Instructions
The Discovery-Automotive system goes beyond the standard Racelogic system, by adding a user programmable shift light as well as a slip indicator LED. These features are not available in the standard Racelogic installation. The whole thing ties together as a OEM looking installation. The control are within easy reach, seamlessly integrated into the steering column. Also from an extensive R&D effort the DA system is able to work as very low speeds of less than 5 mph compared a standard installation not working until speeds are in excess of 17 mph. The benefits are better control during slow wet weather use and enabling the launch control feature to really work.
Note that the launch control and full throttle shift features should provide immense benefits for the TT owner. As the boost pressure will won't fall off during a launch or while shifting. Just keep the pedal to the metal and let the system do its magic.