Unfortunately that tip relies on the EXITPGM support of the TRCJOB command. In the V5R4 Memo to Users is (among many other things):
In V5R4, the Trace Job (TRCJOB) command was changed to run the Start Trace (STRTRC), End Trace (ENDTRC), and Print Trace (PRTTRC) CL commands that were added to the operating system in V5R1. Because there is no equivalent function on the STRTRC command, the Program to call before trace (EXITPGM) and Select procedures to trace (SLTPRC) parameters are not supported. Any values specified for these parameters are ignored. You might need to change any CL programs that used the TRCJOB command and specified the EXITPGM or SLTPRC parameters.
Not all however is necessarily lost. In V5R4 there is a new API, Call Job Interrupt Program (QWCJBITP), documented at http://publib.boulder.ibm.com/infocenter/systems/scope/i5os/topic/apis/qwcjbitp.htm
This API can be used to initiate a user program in another job, which is what the tip was doing in a round about way using the system trace facilities.
A simple sample of using this API can be found in my COMMON presentation here http://www.brucevining.com/Presentations/PPT_Presentations/Whats_new_in_system_APIs.pdf
Hope this helps,
Bruce Vining Services