Well you might be able to utilize that software, it really won't be necessary to bother with that nonsense. All video, from the VHS & Betamax days our own machines that while they are not utilizing actual timecode are in fact still locked via Crystal clock synchronization. That is to say, their speed is so highly accurate, once you get non-interconnected cameras transferred into your video editing timelines and once you synchronize them, even within a 1.5 hour-long production, you may only experience 1-2 frames of drift. And that's easily corrected by simply finding where the drift becomes noticeable, backing up a minute or two, splitting the track and re-synchronizing it. It's easy, it's fast, it's consistent. I have been doing this for quite a few years even before the days of digital video recorders. No big whoop. All of your audio will be at 16 bit, 48 kHz though it could also be 24-bit all the way up to 96 kHz. 16 bit, 48 kHz is a very well established audio for video format so you must make certain you are working in the 16 bit, 48 kHz which is what 99% of camcorders are recording. Besides, in order to use that other software, you would need to be running Avid, Pro Tools also. So spend more money if you want to but it's highly unnecessary.
Timecode is more important when you are utilizing edit decision lists from an off-line editor.
Mx. Remy Ann David