When thinking about heparin you have to clarify whether you are talking about unfractionated heparin or LMWH. Unfractionated heparin is able to bind ATIII and inactivate Xa and also thrombin, while LMWH is only the pentamer of heparin and therefore is "too small" to allow ATIII to inactivate thrombin and therefore only inhibits Xa.
From this point you can understand why PTT monitoring is useful for unfractionated heparin, but has no role in monitoring LMWH therapy. The reason is because thrombin has a feedback mechanism to activate factors XI, VIII, V, XIII and I. Factors XI is part of the intrinsic and thus prolongs PTT.
At least this is how I think about it, correct me if I am wrong.