Visual Studio IntelliTrace Support for .Net Micro Framework (NETMF)

Has anyone been able to use IntelliTrace in Visual Studio for the .Net Micro Framework (NETMF)?

It would surely be nice to use to debug our multi-threaded apps:

For now I use Debug > Window > Threads:

I can’t seem to find anything displayed in its window (VS2012 Ultimate), although TRACE is defined in both Run and Debug compiling modes!