The Template Manager allows the functionality of Visual Studio's Template Explorer to be accessed without opening (or even installing) Visual Studio. This is useful for managing template definitions in situations where you don't have (or want) Visual Studio installed or don't want to wait for it to start up when all you need to do is take a quick look at a template definition.
The Template Manager requires the following Content Management Server files:
DeveloperTools.xml
DeveloperTools.xsd
Microsoft.ContentManagement.DeveloperTools.ToolControls.dll
Microsoft.ContentManagement.DeveloperTools.ToolsModel.dll
These should be copied to the same folder as the Template Manager executable. If you have installed the MCMS Developer Tools option simple run the batch file included in the download to copy them into place. If not they can be copied manually from the MCMS installation media (look in "\Msi\PFiles\MCMS\DevTools").
In use the Template Manager is identical to the Visual Studio MCMS Template Explorer.