Tracer ammunition and Force Z

Might Prince of Wales and Repulse have survived with tracer rounds for their anti-aircraft guns?

Tracer would have improved aiming and affected attacking aircrews' morale, but it would not certainly have saved the ships.

The most effective pom-pom crews in the action were those equipped with tracer, whether newer tracerless-pattern ammunition with the relevant aiming advantages or older tracer-base arrangements described in the passage. Visible fire helped crews correct their aim and forced pilots to fly through an obvious stream of danger. That could change losses and morale, but it cannot erase the larger operational situation.