Usually a TM is a midrange crossing over to a tweeter, for example at 2khz.
An MTM might have both woofers running in parallel and both of them crossing over to the tweeter at 2khz. This gives you greater dynamics and less distortion, but you have to sit a little further back for the 2 woofers to integrate properly.
A second way an MTM might be configured is as a 2.5 way. This means a single woofer runs full range and crosses over to the tweeter at 2khz, but the second woofer is set to only work below (for example) 300hz. This allows the 2nd woofer to "fill in" where more displacement is most needed (the bass). Another advantage of this design is it allows you to use the 2nd woofer to handle baffle step compensation, which reduces your crossover complexity and increased your speakers efficiency quite a bit, usually 3 to 6 db. If you just use a crossover to do baffle step, then you have to pad down the stuff above 300hz by 3 to 6db to match the acoustic roll off that occurs with a narrow speaker face. That means your 87db mid driver is now 81 to 84 db efficient. And guess what, your 91db efficient tweeter now has to be padded down by 10db to match the 81db mids. That's a lot of power that gets wasted from the amp.