Hi M_Glenn_M
Hmmm, I think there may be some confusion here. A transient shaper will work on a sharp rise in sound in every case. That's what makes it a transient shaper. A threshold independent transient shaper should affect all transients, while a transient shaper with a threshold will work only on transients that exceed a specific amplitude. Theoretically that threshold should go low enough to include ALL transients, thus making it effectively "threshold independent".
So, a Transient Shaper with a threshold should work exactly the same way that a transient shaper without a threshold works, just with another level of control. Or specifically, the TS-64 should work the same way as N.I.'s Transient Master, only you can specify the places it does not take effect with the threshold. I own the Transient Master (and of course the TS-64) and haven't A/B'd them, but the TS-64 should do the same thing as the Transient Master only with better control granularity.
Of course, variation probably exists as with any other plugins from different manufacturers.
Hmmmm....maybe I'll A/B a bit later, but they should do essentially the same thing.
Dean