Hi Jerry
Both are multiscale tools, that decompose the image into layers that contains information at different scales. That means, objects of different sizes are "stored" in different layers. The difference between them is how the separation between the scales is performed. Basically, ATWT uses convolutions (bluring), while MMT uses the median operator (which is a non linear operator). In practice, MMT is better at detecting objects with sharp edges, and small scale objects, while ATWT is better at larger scales, or smoother objects.
I recommend you to take a look at a comparison Juan made about different noise reduction tools, and the new TGVDenoise, in the release information subforum.