Can I use Power Chord Trainer with three note Power chords?

Yes, although Power Chord Trainer fits between the first and third fingers of your fretting hand, it doesn't prevent you also using your fourth finger (pinky) to play the octave note of the chord and is a big help in positioning this finger.

Playing three-note power chords (root note, fifth and octave) gives a fuller sound than two-note power chords but are a little more difficult to master. Power Chord Trainer helps with both two and three note chords and provides a strong shape as a foundation for the pinky finger, which frets the string directly below the third finger.