You'd have to ask Avenson Audio about this. There's a note about the TRS inputs on the product page: http://avensonaudio.com/headphoneamp.php
I never directly compared the M3 to the Asgard and I don't have either of those amps anymore. However, I did find the M3 to be more capable of driving different headphone loads - it drove pretty much all of my headphones at the time effectively, which included the HD800, T1, HP1000/HP2, AT AD2000, and K701. It was ok for the LCD-2 but not really great - but I think I'd say it was better for the LCD-2 over the Asgard. That said, I think there are probably better amps for the LCD-2 than the M3. My specific M3 had a bit less treble tilt and more mid-range than the Asgard too, but since the M3's op-amps can be rolled I'm sure that probably affects the sound from build to build.