There is no trace bitmap tool in Fireworks. Freehand has the best
tracing tool, but you can trace bitmaps in Flash as well. I think the
one in Flash is what you're referring to.
author, Beginner's Guides to Dreamweaver and Fireworks
Extending Knowledge, Daily
Team Macromedia Volunteer for Fireworks: http://www.macromedia.com/go/team