Bruce,
I'm looking at a copy of the TD-504 Operator's Manual dated March 1972. There were four models - TD-405 for general use, TD-504A for reversal color films intended for viewing, TD-504M for color film intended to be printed, and TD-504AM that combined the A&M models. These are transmission densitometers.
The TD-504 model that I have has Red, Green, Blue and Gold (visual) filters in the 'filter selector'. It sounds like that one has two 'filter selector' cylinders - (3" long - 2" around) that have the filters for color film - is there one with 4 colored dots in the unit now?
So, depending on what you wanted to use it for - it may not have the proper filters. These also came with three reading inserts - 1mm, 2mm, and 3mm. You also need to have a calibrated step tablet to allow you to calibrate the unit.
Phil