Obviously a problem somewhere on the system, as per Dave's post above yours, again the sensor to ABS ring giving rise to issues with system. Or.......a point about your 'event', I had a similar thing years ago when towing my Jaguar to Santa Pod raceway for a drag meet, I was using a Range Rover owned and used as a tow barge for many years and I suppose the Jag with trailer was perhaps 3.5 ton? I had only driven a couple of miles in the rain and came to a junction, put the brakes on and the ABS activated and allowed the weight of the combination to push me over the stop line. Like you I was lucky and no accident, and so when I got somewhere safe I tried a slightly heavy braking again and the same problem car was simply not pulling up ABS was being activated over and over. I could not go up the M1 like this! I unloaded the Jag and reversed it onto the trailer, from then it was perfect! I could then brake quite heavily without ABS intervention.
The weight of the V12 engine on the tow bar was trying to lift the nose of the RR, as I tried to brake, the front wheels would lock prematurely, the ABS would intervene on and off, of course as the wheels were attempting to lock straight away the ABS released the wheels, in essence no front brakes. I have said this before, the ABS CANNOT overturn the laws of physics.
Having spent some time in motorsports I used to tow a lot of vehicles but nothing as heavy as my Jaguar, prior to then I suppose I must have used the RR to tow thirty or forty times with no incidents. The Range Rover ABS system was great when the nose weight of the trailer was near perfect, if an accident had occurred I would have had to taken it on the chin as the nose weight was simply way off. Karl, I am unsure whether you put the LC's on your trailer facing forward or backwards but worthy of note?
I don't see as many LC's as you Karl but the ones I have worked on rarely give ABS issues, normally front wheel slip sensors, and going by the amount of them out there that are not suffering failures and causing accidents it could be taken that problems are very rare.
There is also a muddying of waters here, ABS when working correctly will not be beaten in a panic situation. If there is a failure whether it be hydraulic or ecu related then of course this is a different issue, or in my case in effect user error.
BTW compiling a list of 'bits and pieces again' PM soon Karl
regards
Dave