TIR = Total Indictated (or Indicator) Runout ( I always knew it as Total Indicated Runout)
It is the absolute value of the difference between the high and low reading as seen (usually) on a dial indicator, but could be measured by other means.
Measured practically it will include the effects of eccentricity as well as out-of-roundness, roughness etc.
For a collet I would expect it to relate to the bore of the collet when correctly mounted in it's holder.
The lower the figure the better really BUT the higher the price will be.
Keith