RTA stands for Real Time Analyzer. When you 'pink' a room, or 'ring out a room' you normally play pink noise through your mains (and monitors if you are using wedges) and use the RTA to look at the frequency response of a measurement mic feeding the RTA.

You then adjust the EQ settings you have on your bus to your mains until you get the frequency response at the measurement microphone that you desire.

Devices like dbx drive-racks have made this sometimes a chore task into something that is nearly automatic and they do a fine job in my opinion.

I think you can run any VST plugin as a standalone with Hermann Seib's savihost, but I've only done it with VSTi, not VST.

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