A SCAD (my college) student got her "Sea Princess Azure" comic in Tokyopop.
First:
Being a newbie, there wasn't much room for negotiation in her contract, so the amount of money she got paid was not good.
Also they co-own the rights to the comic and it's characters. All profits on the comic goes through Tokyopop first, then the creator. She couldn't even sell prints featuring the characters she created anymore. And creative control is gone, though she had creative say on the comics, they went behind her back and changed things.
Also, they divided her story into three volumes, and since the sells didn't reach Tokyopop's expectations, they never released the third volume. And she's not allowed to put the ending up online. She's even in an exclusive publishing contract, so they own the rights to publish it forever (or until the company closes down) even if it goes out of print, meaning she can't get it published by another company.
And that's why it's not good to submit to Tokyopop.
Here's her DA account. Apparently she did Disney comics for Boom Studios.
Good for her!