What is confusing you?
You can also use pin 10 instead of pin 23 for command common.
I’m not too bright with electronics and wiring. Sorry. 
So, I picked up 2 things…
Now, do I need to connect the ground wire to the ground pin in the DB25 Breakout Board?
Ok, so I connected it with the ground wire to the breakout board.
Doing a test on the Airlite which is running stock and not connected to a PC, so with whatever default settings the mixer comes with, I could connect to GPO 2 (GPO1 doesnt do anything) and hitting the ON button on the mixer channel does indeed start the cd playing. Since the cd player start button is also a pause button, every time you hit the mixer ON button it toggles to either start or pause.
Oddly regardless of the channel the audio input is going into, in this case channel 4, even if I hit the ON button on channel 5, the cd player also responds. Odd behaviour, but I suppose this may have something to do with assignments in the software, so I could see that changing once the mixer is set up correct with the pc.
Now, the other interesting part is currently fader start actually works! So if playing, I bring the fader down all the way, the player will go into pause mode when volume hits -zero (volume off). If I start to slide it up, it comes out of pause mode. Which is odd because the volume is at -zero and there is no way to get the full volume of the track start until you bring the fader up all the way to the top. If bringing the fader to the top, or once the fader hit the top it started or unpaused the player this would be better. Again, this may be possible in the software, which I’m not using or connected too.
I’m just sharing this info and experience if in case this helps anyone else or we discover something new. 
This is using UdoRadio’s:
Pins 9 to jack Tip and 23 to jack Ring.
The fader start works exactly as you described: you have two options, either with the fader alone or together with the ON button.
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So there is no way to incorporate the cue button function from the cd player to the mixer along with the play button?
If the only way is to use a momentary pushbutton switch, I found this on Amazon:
Not sure it would work, but how would you incorporate this? Just use the same breakout box, but connect this pushbutton to the corresponding pins? (Cue Pins), but how would it be powered? Would I have to jumper one of the pins coming off the TRS cable?
What do you want to achieve with this in the first place? The fader start operation typically goes like this:
-
Load the CD and select the desired track. (This sure is to be performed at the device itself.)
-
Lift the fader and the device goes into PLAY.
-
Close the Fader and the device goes into PAUSE.
Nothing less, nothing more. This can be obtained by shortening pins 9 and 23 (or 9 and 10, your choice) with the fader switch – either by soldering the appropriate connectors or using the terminal thingy off Amazon.
For any other operation (i. e. selecting a different track or loading another CD) you have to attend to your device anyway (and select the operation locally), so I do not see the need for any more buttonery at all.
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I completely agree with Tondose, I don’t see the point of a remote-controlled cue button either.
To your question:
Yes, this switch will work. It is not supplied with power.
Simply connect one of the wires to pin 23 of your breakout box and the other to pin 4 and it should work.
You can connect several cables to pin 23, nothing is jumpered on the fader start cable.
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Yes, I see your points. It was more of a curiosity to see if it could work, but like you said, it is not needed. Tondose is correct.
Thank you both, Tondose and UdoRadio for your input and help. It was a interesting learning experience. You both are excellent!
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Glad you got it sorted 