Yeah, that was a different product with the same name. The ATM I worked on was a low level font rendering utility. It became obsolete in a few years as Windows evolved to include a formal font driver interface, so Adobe repurposed the name for a font management tool.

I'm a little fuzzy on those details, but I seem to recall that there was a problem with having too many fonts available at the same time. (Memory limitations?) So this new Adobe Type Manager let you select a subset of your fonts to be available at any given time.