I hope I'm not stating the obvious... forgive me if I am.
Speed sensors transmit speed info to the computer by opening and closing a switch as the wheel goes around. The computer counts how many times the switch opens and closes within a time period, and calculates a speed from that.
The computer is reporting that the switch appears to be stuck open, and isn't closing anymore.
So, here's what I'd look for:
- Broken or disconnected cable - check both ends of the cable, between the wheels and the headunit.
- Bad sensor - You might be able to hook up a multimeter to the sensor and spin the wheel and see if the continuity is changing. It depends on the type of switch, though.
- Bad encoder - something passes in front of the speed sensor to cause the switch to change. It might be a magnet, but it is probably something that looks like a gear.
The tech manual on Tone's page will probably help. I can't get to it right now, or I would give you more specifics on the ABS system. Testing for a bad sensor is probably tricky. You'd need to have the whole VX up on jack stands to safely spin the wheels, and even then if the sensors are hall effect sensors, they're probably more complex than the simple switches I described... and so they might need more than just a multimeter.
Bottom line, check the cables, then read up in the tech manual.