Just thought I'd mention that there are some questions about TM-Town over at Proz, @ http://www.proz.com/forum/business_issues/287990-translation_memory_tm_is_the_translators_intellectual_property_ip-page2.html that probably warrant your attention.
Thank you for alerting me to that thread. Please see my response here.
You're welcome! Just read it.
Incidentally, your site and T&Cs are all very clear if you ask me.