Same master keys and addresses.
Well, I don't know either but for me the 2FA wallet that I created before works without using that tool when importing it on the latest Electrum.
But base on what I research some people experienced the same thing as nic3guy like this man here https://bitcointalksearch.org/topic/m.56382030
And solved his case by using the trustedcoin recovery tool.
There might be the reason why they get a unique seed that doesn't work when trying to recover it directly on Electrum. I just can't find it on Electrum documentation or even in trustedcoin.