TIPM stands for "Totally Integrated Power Module". It's basically a super fuse box. A fairly sophisticated bit of electronics that more-or-less controls every electron in the vehicle.
The problem with it is, there's almost no way to work on it without very expensive dealer tools. What's worse, it seems to be somewhat prone to failure.
For example, in the old days if you drew too much current on a circuit you'd blow a fuse. Then you diagnose why the fuse blew, fix the problem, and replace the fuse.
But on certain circuits (the trailer circuit, for example) the TIPM seems to take a sort of revenge on you if you draw too much current. It shuts off the circuit, and it can't be turned back on without a DRB-III.
Personally, I don't like it much. But maybe someone will chime in with some good things about it.
Ryan