Essentially the TrackShaper is a repack of the technology of the ChannelStrip MK2, inside the new plug there are the same high quality EQ and compression algorithms the difference is that their parameter are set dynamically according to the track type, the effect amount and input gain chosen.
When you choose the “kick drum” track type for example a default EQ curve and compression type is selected, changing the “effect amount” knob changes both the EQ curve (making it more drastic) and the compression level (adjusting also attack and release times to make it more dramatic).
Setting the “effect amount” to it’s minimum has often a very gentle effect on you tracks, while setting it to “100” brings EQ gain even to +/- 9dB in some algos and compression up to 20dB of gain reduction.
This is of course done according to the input level that has an effect on the compression, so it must be set right. The input and output meters are very handy for this purpose since a green dot will progressively light up when the signal peaks at +0VU that is the intended working range. You can use the auto-gain option to let the plug dynamically adjust input and output gain, or if you want, set the input gain very high or very low to experiment with the sound!