Hey Vince: I don`t have experience with ITEX but I do have experience with ITA which appears to be the same thing.
ITA bartering works well for me at my hot dog stand and I`ve used my ITA $$ to have my car fixed, get my dog groomed, and visit the dentist. We accept them at face value but only put out the cost- you then spend them at another business at face value.
It`s really kind of a wash but the best thing about bartering bucks is it`s a GREAT way to get business from other businesses. Upon receiving barter bucks I always ask about their business and when I spend my barter bucks they always ask about mine. Usually they show up at my place within the next week and that means I`ve got another customer and another sale. It`s worth the cost for me to get that customer to walk in my door. It`s up to me to keep him as a customer.
Bartering bucks is useless though if there aren`t many participants in the area.