Rather a lot of very silly comments on this thread, I regret to say.
Firstly, the Training Fix is a method for practising D&D procedures for pilots and D&D personnel alike. If it has degenerated into a navigational technique used by those who won't admit they're actually lost, then that is an abuse of the system. It also throws doubt on the personal integrity of the pilot; if he won't admit to being lost, what else won't he admit to...?
If airliner-drivers are genuinely inconvenienced by excessive use of 121.5, then perhaps CHIRP action should be taken.
There is no mandatory content for the 2-yearly training flight with an instructor. FI and pilot should decide between them what they wish to practise. It is not a US-style 'Biennial Flight Review', nor should it be termed 'a biennial' as that will lead to ambiguity.
The CFE has stated that an element of visual navigation shall be required as part of a SEP Class Rating Revalidation LPC or Renewal LST (Section 3A). The extent of the navigation exercise is at the Examiner's discretion and should take into account the recent experience of the pilot.
My overall opinion is that WWW is essentially correct, but hasn't made his case particularly well. The bottom line:
A Training Fix is not a valid navigational technique, nor is it appropriate for pilots who are genuinely lost who should advise D&D accordingly. It is purely a method for practising the relevant D&D procedures