That's right, the CM11A is a serial (RS-232) device, while a TW-523 is a TTL-logic level device that uses direct hardware timing, and has no relation to anything resembling a serial data stream, baud rate, or other protocol. It ouputs a two level square wave indicating the zero crossing of the power line, and the other two signals indicate (or enable) a signal to control a burst of 120 kHz signal on the power line.
They could hardly be more different.