Good in terms of frame data, but bad in terms of fitting in in terms of TL's playstyle.
A spot dodge doesn't distance you from the opponent, which is pretty much what you want to be doing most of the time. The only time TL ever really wants to be close is when he is at an advantage, (so if the opponent is hit by a bomb or zair, for example), so unless you're spotdodging something laggy it isn't worth it.
In addition, the risk-reward just isn't that great. The best you'll get most of the time is a fairly weak punish. What you gonna do? Bair? Nair? Grab...? TL simply doesn't have many good punishes unless he has a bomb on hand, in which case you can do some tricky stuff, but typically they just aren't that good. On the other hand some char's will just beat your face in if they get the same chance. (lol mk). It could work in some cases though I guess. If you're going for utilt/bair strings or something. But thats only really reliable on certain chars at certain %s. I have nowhere near the required MU experience for that.
It's generally a much safer option to get away somehow because TL usually has the upper hand at long range.
However, spot dodge's usefulness DOES scale with opponent's %. It can lead into kill opportunities. Running away does not. In this case your potential reward is a kill, instead of just damage.
All theorycraft though, that's how I always saw his spotdodge, but I haven't exactly been able to find a large enough group of decent players.
