Had this happen to day, not sure if anyone else has had the problem.
Turned traction control/all off (3 seconds.) Pulled out on a double wide empty road making a left turn intentionally kicking the rear end out. Mid-way through I had the tracing control continuiously flashing (as if it was never turned off and you spun the wheels.) The result was that slight choke (for lack of better description) of the throttle or whatever it does which resulted in a sweet 180* spinout -_-.
Soon as I see the end come around I clutch in and catch it. TC still flashing even though I've come to a complete stop. I put it into 1st and proceed to leave as I already feel that I've made an ass out of myself.

So I let out the clutch and but, no movement. Car revs like it is in neutral. I shift into 2nd then back to 1st and try again. Again, tach is revving, crickets chirping and the lost traction light is still flashing with the "TC off light" and the one below it still lit up.
So I hit the push start and then restart the car. All seems to work well after the restart, didn't mess TC with the settings after restarting and drove off.
Has anyone had something similar to this happen. Just moments before I did see my low tire pressure lights come on (Temp is dropping.) Maybe a mixed signal cause the car to flip out.