An SPL meter is a sound pressure level meter. It is used to calibrate audio systems. There are fancy digital models, but the analog ones from Radio Shack do the job for a lot less money. Have never heard of Blue Tac. Is that supposed to have some connection to an SPL meter?
The only blue tac I have heard of is a sticky substance you put behind pictures and under knick-knacks on shelves so that when you crank the bass, things don't move.
For what most people here use the SPL meter for, yes they are equivalent.
I went to the next level and used my SPL meter and sine wave test tones from 10hz to 100hz to plot the in-room frequency response of my sub. Turns out that I had a 15db hump at 54hz. That's why my bass was boomy and I had no low end. I added a parametric EQ and flattened the response to plus or minus 2db from 17hz to 100hz. Not ruler flat but as close as I can get.