Doug,
While looking for Steptoe's original post on ADVRIDER stating he could fix some of the ABS units I found this recent thread where he did reveal how it can be done. http://www.advrider.com/forums/showt...ighlight=fixed See post #11.
If this doesn't work you may want to PM him and see if he thinks your unit is fixable.
Another option is to call these guys http://www.modulemaster.com/en/faq/index.php. Although they rebuild BMW car ABS modules they may not want to do a motorcycle; however, my guess is if you get the right person he/she may be able to tell you what the likely issue is with your unit and how it can be fixed. What blows me away is they give a better warranty on their rebuilds than BMW gives on the OEM unit.

Dave