I can only talk about the California 1400, as it's the only bike with traction control that I have had experience with.
When I first starting riding the bike, I was wary of the traction control, and nervous that it's intervention may have negative experiences for me. Nothing could be further from the truth. It is very unobtrusive, and the only way I know it's kicked in is the flashing light on the dashboard, and a slight loss of power. This is particularly noticeable when ascending a gravel road, but occasionally I will see it flick on momentarily on the tarmac too.
I believe the 2nd spark plug is initiated with traction control, perhaps to induce a more uneven power transmission to assist in regaining traction. Power of course is under the control of the ECU, so may be reduced also.
Traction control may be turned off independent of ABS, but the warning light is permanently on reminding the rider is is disabled.
Traction control kicks in when the wheels are running at different speeds linearly along the road, i.e. they may be rotating at different speed because of different diameters etc. It is calibrated initially, and if a different tyre size (or maybe brand) is fitted, may require recalibration by travelling at a constant speed of 30 kph for about 10 seconds.
I'm now a fan, and see as a complementary action to ABS.