Some Thoughts
I'm quite surprised to see the bad turn this thread has taken since I was here last - I found it in my bookmarks when I was cleaning them out, and checked mostly for fun, but I think a bit of the other side is warranted here.
Firstly, I found TB's contract excellent, with terms profitable both to me and to TB, as it should be.
Secondly, while I am sorry to hear of a sad experience such as selling only one book, I can't equate it with my own at all. My debut novel is still on early release, meaning it won't even be available off Totally Bound's website until May 9th, but I'd already sold at least a half dozen copies to random people in my Nanowrimo group when it was on pre-order. Considering it's the debut novel, first in a series, of a debut author, I find that quite encouraging - and of course that's only the books that have been sold that I personally know about, because individuals have commented on posts and such.
Those of you considering contracting with TB, please make your own decisions based on what you feel is best for your book with this in mind as well as what others have said. It saddens me to see much negativity here when I, at least have had such an excellent experience!