On the last VM Refresh 2 we include the Event Trace Parser for Microsoft Dynamics AX 2009. This is a must have tool for the developers, consultants and support folks amongst us that need information about what is happening the system.
You can find it under the menu system :
Start\All Programs\Event Trace Parse for Microsoft Dynamics AX 2009\
If you want to download the tool. You can find it on Partnersource
Original post at http://blogs.msdn.com/lcash