Looks like a pain the rear to replace it. Remove the hub and rotor! I just did that last year. I replaced the rotors as they were warped and likely did not get the cable clipped back in place properly which is likely why the wire rubbed on the tire.
I soldered the wires (two within a rubbery coating) today and disconnected the battery. When it was all back together I started the rig and the light flashed once or twice and then stayed on. Maybe it is like you said and the wheel needs to spin in order to clear the code.
Not a really big deal as the brakes work normally otherwise.
