I assume originally referring to the Watts Up or Doc Watson meter.
http://www.rc-electronics-usa.com/electrical-test-equipment.html. There is a lot of info on that site regarding those (and similar meters).
They are nice lil meters, they have their place, and there are bazillions of cheap knock offs. I installed cheapest 'Watts Up' knock off I could find with a metal case that can be opened. It was added exclusively to monitor inverter use. I might add another to Solar output. But its not a Tri Metric etc.
For battery monitoring, main issue is the watt meters are NOT bi-directional. Meaning; to monitor both in&out requires 2 meters, still cheaper than say a Trimetric etc, however depends on the information you want.
Second issue the shunt is built in, limits remote reading location without adding a lot of wire on main ground, or placing in a not so convenient location. As you ascertained, yes they (Watts Up etc)need to be mounted in line with your ground, (positive can be tapped from anywhere). Its possible to convert (some) to external shunt but another whole subject..probably do not want to go there. Lots of info out there as these are used a lot on electric bikes-etc
I didn't find a lot when looking using the watt meters so didn't pursue. Note: ANY & ALL of the different watt meters are rated half continuously of advertised rating ie the 100amp'Watts Up' is good for 50 amp continuously, though likely a non issue in a TC.
related watt meter threads
http://www.rv.net/forum/index.cfm/fuseaction/thread/tid/23660840.cfm
example of 2 watt meters
http://www.rv.net/forum/index.cfm/fuseaction/thread/tid/25049072.cfm.
http://www.classbforum.com/phpBB2/viewtopic.php?p=11853#p11853