I know the original post is older, but a few comments on my '16 PW.
- There is no indication of anything going on if you hold the TC button for over 5 seconds....no chime, no extra lights, no blinks, etc... If you just tap it once the TC off messages comes on. Holding it down longer does nothing obvious. With just tapping the button once and getting the TC off message there is no obvious indication any traction or stability control is working? I've played around on a snowy parking lot doing donuts and spinning the tires and can't tell any difference between just tapping the TC button once versus holding it down longer.
- When shifting into 4 low the TC automatically turns off and message shows up. There is no obvious sign of any traction or stability control at this time. I have personally had the truck in low range, 3rd gear, full throttle around 5,000 rpm spinning in mud. This means the tires were spinning around 30 mph. Both front and rear lockers engaged and swaybar disconnected. I did not notice any flashing lights on the locker or swaybar controls....but maybe I just didn't notice them? I was spinning the tires for at least 10 seconds (have it on video).
- In 2 Hi and TC still on, it will still spin the rear tires and will get sideways until the TC kicks on after a second or two. Not like the TC immediately limits power and wheelspin when you first hit the gas. On wet roads you still have to be careful, such as pulling out from the drive or turning from a stop sign as the truck will easily get sideways on you.
- In snow or mud in 2 Hi with the TC still on, it will still spin the rear tires the entire time. Just not that fast after it kicks in. Maybe feels like you are only at 1/4 throttle even with your foot to the floor, but the rear tires are still spinning.
- In general, the TC on my PW is not nearly as "aggressive" as our minivan or car. On the minivan if you floor from a stop on snow it almost immediately kicks on.