Afaik you can shear and stretch your texture. But there's no use for a shader like that. If you really wanted to do that (I don't know why you would want to do that) you'd probably do it in photoshop or gimp.
I tried it and it made a water texture I made VERY bright, and made everything viewed through it much brighter as well. I wish I knew how to use it properly, because the guy who made edo uses it in one of his water shaders and it looks nice. He has it on a .tga file with an alpha channel though. My tcMod transform was on a .jpg file.
You really don't need this. This is a one time passive command that will stretch the texture across coordinates determined in the shader and that's it. This is not an active command like scroll.
Shader manual merely explains the meaning of each keyword that can be used. Tcmod transform was in the end described as something used by programmers, what Red needed was tcmod scale.