TextAds.biz is more accurately described as a tool to sell and rotate text ads on your site, than an ad network. Webmasters sign up (there are no minimum requirements or up-front costs), put in their site's info, and get the code to put on their pages. You even get to set your site's CPM rate for text ads, and if you chose to offer CPC ads, you set that rate as well.
You also get to pick the minimum amount of either type of ad you are willing to sell. They make their money by taking a 20% cut of any money that you make.
The administrative interface is easu to use and intuitive. It even allows you to completely alter the look of the text ads - just put in your own HTML code with the certain key tags. You can also run an unlimited number of filler ads on your own site for free - until you get some paid ads to fill your inventory. (One problem with this is that filler ads are treated just like regular ads - they expire after a pre-determined number of impressions or clicks. Having "perpetual" fillers would be more convenient.)
The downside? Don't hold your breath for someone to start selling out your inventory. While TextAds.biz offers network-wide ads for sale at $3.00 CPM, (they pay the lucky webmasters $2.00 for these ads), chances are that you won't be seeing any of these any time soon.
The other way of selling ads is via a "buy ads" URL you are provided with, which is up to you to promote. With this URL, a potential customer is taken to the TextAds website, and offered to create a link at the price you set. (If you are enabled the CPC option, they also get to chose between CPM and CPC.)
Once the customer creates their ad, they pay TextAds through PayPal, and depending on your preference, the ad is either auto-activated or marked as pending for you to manuallyu activate it after a review. At the end of the month, you will be paid by PayPal for all the sales you made (plus presumably any network ads you were lucky enough to run) minus the PayPal fees and the 10% comission taken by TextAds. After all is said and done, your cut is about 85% of the stuff you sell directly.
One more way that your ads can be sold is also through the Buy Network Ad option that TextAds offers. However, this is only true for CPC ads (a pretty good reason to enable them). When someone goes to buy a network ad, they get presented with a full list of all sites using TextAds. Each site is listing a description, and if it sells CPC ads, a link to buy these directly from that site. Since anyone who is looking at that page is already interested in buying text ads, this can be a very good source of sales. This page seems to list sites in the order of descending traffic volume - higher traffic sites will generally appear higher, and this benefit more from this exposure. Since your site's description is also visible here, you want to make it as noticable and attractive as possible, so that it grabs the attention of potential advertisers. (It seems that some limited HTML use is allowed in the description field - take advantage of it!)
To be really successful with TextAds however, you will need to market your own ads. And anyone who has ever tried it will know that a simple "Your ad here" link will probably not do a whole lot of good, since for the most part your visitors are not also potential advertisers. If you already have an advertising info page, a TextAds link can be a valuable self-serve solution for advertisers to get their ad on your site instantly (provided you have enable auto approval).
Since TextAds is not really a network, there is no referrer program in place.
Overall it's a pretty good tool for anyone who wants to sell an inventory of text ads without spending the time to set up their own solution. A higher volume of network-wide sales would make this a top-notch program, but as it stands TextAds.biz gets rated as 4 out of 5.