The SCS900 team responded today and will give me more detail tomorrow
1) The TTM file will read into the next version of Siteworks (v1.1)
2) They have never supported Islands in a TTM File - TBC does this by "Hiding the Link triangles" between the islands in all views i.e. Slicer, Corridor, Plan, Profile etc. but they are still there and can be seen if you change the surface color to RGB Value 100, 101, 102. It doesn't sound as though they intend to support Islands anytime soon - however they will comment tomorrow further.
3) I will find out tomorrow as to why the file will not open in current version of SCS900
Hope that this helps
Alan