BTTT - In case someone who could comment has missed it!
I can only guess that 'BTTT' means "Bumped to the top". Not something I've seen on this forum
The ring on the later-style hub is a magnetic multipole codifier (yes, that really is its name), which is like a brown fridge magnet but with many poles. It is designed for use with the 'active' ABS sensor introduced some time around 2000. I imagine this has a Hall effect IC that responds to the magnetic field generated by the ring.
The toothed wheel (reluctor) of the pre-2000 ABS design is used with an inductive coil sensor ('passive') that has a permanent magnet coupled to it. Therefore the reluctor modifies the magnetic field that is generated by the sensor itself. The sensor is known as passive because it generates only a tiny voltage.
Seems to me that you have got a working result by using the multipole magnetic codifier to generate a second magnetic field that interacts with the magnetic field of the sensor. I just wonder whether there are the right number of pulses per revolution, or even whether the voltage induced in the coil might be too high (given there is now approx. twice the magnetic field strength!), and finally I would have expected dimensional clearance problems (i.e. rubbing/scraping). If the ABS light comes on with the ignition, then goes off, and then does not come back on once the car has rolled a few hundred metres, then the ABS will be operational (on all wheels). It may, however, trigger falsely in certain conditions if the speed of that wheel is reported incorrectly (quite likely if the pulse count is different). Therefore, the result you have may hinder braking and even cause an imbalance, I think you should change it. I'm sure the removed hub will be quite re-saleable.
To focus the mind re: the cost of the bearing...
- someone here reported paying £50 for a rear hub
- my rear hubs cost £80 each plus £30 postage
- my closest dealer quoted $750 (£359) for each rear hub ex Italy (six weeks)
Think you will agree that attempting to press races in/out is irrelevant when the complete hub is only £50... that's cheap. The time I've taken writing this is probably valued at nearly £50 in England