Two-way deals stipulate that the player has to be called up to the NBA team at least twice during the season. They also give the guy a few games on an NBA court.
So barring some major injury Travers will play some NBA games this season and that right there is every basketball players dream fulfilled, to play in the NBA. What happens after that is immaterial. Will he stick in the NBA? Probably not. But once he gets ex-NBA player on his resume big money offers will come from Europe.
Worst case scenario he could always come back here and be a pretty good player on decent money but I suspect he will probably exhaust opportunities in higher paying leagues first.
The good thing if the Cavs cut him after the season? He will then be an NBA FA and able to neotiate with 30 NBA teams not the one NBA team he's had to negotiate with over the past couple of years.
Just remember Duop Reath was on a two-way deal with Portland and played so well they signed him to a 3 year extension.