track mode is a misnomer, however, it probably saves alot of cars from showing on youtube wrapped around an inanimate object.
holding down the left button for several seconds (until display changes) disables nearly all of the nannies. You still have a limited stability function but its more a last ditch effort rather than corrective action.
The "pedal dance" disables every thing except abs. You can buy a device to do the dance for you. It's for "off-road" use only. Or for ppl who have driven cars built before 2005, when vehicle dynamics control became somewhat mandatory.
pulling the abs fuse, too, makes it full racecar.
manual has a description of track & stability buttons. Whether the airbags are pre-loaded when nannies are triggered was unclear.
Note: if you are seeing the stability light blinking on the dash, you're probably driving beyond your ability. Disabling that nanny requires enabling your phone's video to auto upload your fun.