In case you haven’t seen this, readtrace has been updated to also support the SQL Server 2008 trace format and new data types.  There are lots of other fixes and changes in there so go and get the latest version to take a look:

x64 http://www.microsoft.com/downloads/details.aspx?familyid=B60CDFA3-732E-4347-9C06-2D1F1F84C342&displaylang=en&displaylang=en

OR

x86 http://www.microsoft.com/downloads/details.aspx?FamilyId=7EDFA95A-A32F-440F-A3A8-5160C8DBE926&displaylang=en&displaylang=en