As to VOM's:
Given a spool of twisted pair wire, I can take both ends of one wire, place the red lead on one end and the black lead on the other and measure the impedance of that one wire. What use is this? Given a impedance per length formula you can estimate how much cable length is left, that's about all it is good for, or if you get a weird number you can assume damage. The more realistic way to test is to short the pair at one end or use a UTP [100 Ohm] terminator, and test the LOOP resistance at the other end on the pair red on one, black on other [in coax one is the conductor/stinger the other is the shield and you use a 50/75 ohm terminator depending on your rating] [this also makes a good toner system, find more than 100 ohms and you found the terminated line], however, as I stated neither of these are what I am talkign about on the splices, so a VOM will not test the correct impedance as I was referring to the 100 Ohm Characteristic or surge impedance which requires special tools to actually test, and is based the materials involved and the distances between wires supplied. What you need is TDR which basically sends out a wave and look for reflections of that wave, determined the time it took to receive them and then using an attenuation and velocity of propagation formula estimates the distance to the impedance mismatch which is what causes the reflections.
Your tool does characteristic impedance or Time Domain Reflectometry and for that price it better, no? And I am surprised to find someone that does carry something like that around, but then it says it does FIBER too, so your doing rather higher up corporate runs I take it, small business IT is what I usually run into and I am lucky if they know they can tone UTP with a standard VOM, they always insist on going back to get the broadcaster half of the phone timer they left somewhere. Or running up to lowes/home depot to get another one...
I always wondered if you TDR'd a properly terminated cable, will it crash form doing indefinite calculations or not, heh. Look slike yours comes with ends. But I bet they have some osrt of response system in them too.