I have no experience with the Traxxas 2.4 ghz radio, so take my opinion with a grain of salt - but universally speaking, any 2.4 ghz transmitter/receiver would be an upgrade over an AM based alternative. It's stronger signal and you don't run the risk of two people having the same channel (and stomping on one anothers signal).
As to the failsafe...
I have seen people make comments about how the built in failsafe does not account for low vehicle (receiver) battery situations.
My vehicles are split between an older Futaba FM programmable system that does go into failsafe mode when the vehicles (receiver) battery situation is low and a Spektrum DX 3.0 which only appears to handle failsafe conditions involving communication link failure.
I've yet to run into a situation where the battery on a Spektrum equipped truck goes low on juice - but the manual and their website doesn't make it seem that the vehicle will go into failsafe with a low battery.
The best info I can find is that with the right transmitter (DX 2S) and the right receiver "*Telemetry requires a DSM telemetry-compatible receiver (SPM1205, SPMSR3300T)", that you can "monitor vital vehicle stats right from their transmitter, without any additional equipment... keep an eye on your battery voltage".
I have a hard enough time keeping my eye on the truck and where it's heading...
I know that the Futaba 3pm-x 2.4ghz system does take into account lost signal and low receiver battery, and if I was looking to buy a new system (and given previous experience with Futaba systems) I'd lean towards buying one of their products.