Contract Web Development says their new OS X application, Fast TM Restore, is the first app dealing with Time Machine to be approved by Apple for the Mac App Store. It requires Mac OS X 10.7.x (“Lion”) and costs US$5.99.

With Fast TM Restore, you can browse your live filesystem and see all of the available Time Machine backup versions of any file or folder. Click on any version to see file size, creation date and modification details for a specific backup. Click one button to restore the Time Machine backup version to your live filesystem.

Fast TM Restore offers a visual indication of ‘”duplicate” backups compared to “original” backup versions. A “Save As” dialog allows you to rename the restored content and/or restore it to a different location.

Fast TM Restore’s restoration process checks available disk space first to make sure you have enough space to restore selected content. If a restoration would overwrite an existing live file/folder, the original file/folder is moved to the Trash.