The TSOP is located on that cable, and on the opposite side of the image you posted. The sensor itself is pretty darn reliable. Due to the mixture of fuses, capacitors, and resistors that eventually lead to the sensor, it has a super low chance of actually failing unless it comes into direct contact with water. That's why Apple has a water sensor right next to the cable. Most of the time, people fail to seat the cable completely into the female port. You will not be able to repair the sensor! The solder Apple uses requires high heat to reflow, and will cause damage to the plastic cable before you ever get a chance to fix it. If reseating the cable doesn't work, it needs to be replaced. The trackpad itself has ABSOLUTELY NOTHING to do with the issue. Don't waste money. Just buy a new cable if seating it doesn't cause the fans to slow their roll.
NOTE: If you are looking at errors posted from your computer, sometimes the same TSOP error can be caused by the isight camera wire. If for whatever reason the wire shorts to ground, the error pops up and the CPU/GPU fans go beast mode. Check them too.