the sensor in the diff is used as the 'divided guide' eg. if either of the wheel speed sensors (normally an abs pick up ring) does not match the one in the diff then the ecu knows that a wheel is spinning and can then apply abs pressure to either directly slow or even stop that offending wheel... cheaper systems just use each of the four wheel sensors but obviously this system is greatly floored if the vehicle is in fact going round a bend and and the wheels should in fact actually be all travelling at different speeds ( Ackerman theory).
At the end of the day it depends on the age of the diff, if fits fairly old its unlikely to be off an abs/TC car in the first place, plus normally the sensors that are the norm in abs/tc uses are three wire as this gives a feed, ground and proportional out put (0-5v or 3v depending on ecu type).. on the flip side a speed sensor is is just a magnetic switch which is just open and closed giving a set number of pulses per revolution, this obviously only requires two wires, one a feed and the other a return to the ecu or dash module where the pulses are represented as a figure on a speedo.
simple huuuu!, bet you wished you never asked now ...

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