Now the transmission tells the ECM what it's doing and the ECM controls the enigne, the transmission control module has nothing to do with controlling the fueling.
Using typical controller logic, the interplay between the modules might go something like this: the transmission control module (TCM) would tell the ECM that a slip condition exists. The ECM would then proceed to reduce torque until the slip condition is no longer reported by the TCM. So, technically, the ECM is indeed controlling the engine, but the TCM is telling the ECM, in this case, "Too much torque - back off!!"
Rusty