Powerbraking is a good way to find out what a rebuild costs.
Unless your tranny is built to handle powerbraking, I think the LS is NOT, you should not do this.
As far as throwing codes, I would expect with the Advance Track off, the computer is not looking for differences in the wheel spin and won't thow codes, but it might flag the difference by displaying the message. The system is telling you there is something funny going on, in your case probably just wheel spin. I get this when I go too fast over a bump/turn and catch a little air.
Back to power braking... Powerbraking looks cool and maybe works OK some times, but continued power braking builds a lot of heat fast which kills trannies. Plus if you are really unlucky and the LS has a whimpy torque converter, you have a good chance of "ballooning" the torque converter and then you are really up a creek without a paddle. If a dealer sees a ballooned converter, say good by to your warranty. I don't think the LS makes enough torque to balloon the converter but my opinion of the tranny on these cars is not good.
Good Luck,
Jim Henderson