It fits great on my bike rack. I do forget it's there though and have washed by bike several times on the stand and ended up flooding my tray with water. But luckily, the built-in drain does help with that a bit. :)
My main gripe is a lack of tool holes for larger tools. For example. I can't put my Park Tool torque wrench in the holder anywhere so it just flops around in the main body of the tray. I guess depending on your specific tool setup, it might or might not be an issue for you. But that's really the only complaint I have.
Very happy with this. It is much more useful than the tray for Park Work Stands. All of the typical tools, like hex wrenches, fit and store nicely. I've owned both Park and Feedback stands and because of this tray, I like the Feedback stand more.
I'm using this tray with the Feedback Pro Elite repair stand. It mounts securely without any tools or hardware. Assorted slots help to organize allen keys, and other tools. It comes in really handy for keeping small parts within reach. It needs to be positioned high enough so that it doesn't get hit by the pedals if you are rotating the cranks. That is easily accomplished by sliding the tray up andor rotating it.