Was with Microsoft for 6 years and ever since I left Microsoft,this is something I felt missed.This tool was available inside Microsoft was for long time ,used for very hard to track bugs or issues in almost any technology Microsoft produces.I have used time travel debugging to debug asp.Net issues a lot.Having it publicly available is simply awesome. Some things you can do
1. Record trace from any machine where the issue is happening.
2. Now take this trace to your machine where symbols and source code is aligned and start debugging
3. While debugging you can debug back and forth easily and get stacktrace,get local variables,parameters etc.
4.You can put break point if a particular variable is read/write.
5.Use all the windbg extension commands like sos,psscor etc.
It does produce large trace files while recording so running it for long time was not advisable. However it had a circular trace feature where you can keep it running with a buffer size if the issue is intermittent. Also debugging requires bit of Assembly level knowledge