I personally hate traction controll with a passion. Fine if you have the driving ability of a 160 year old, but then again these people are normally found with flat caps, driving gloves and behind the wheel of a 15 year old Volvo Estate.
I always find that by feeling what the car is doing and adjusting your throttle/steering input will normally sort out any traction loss problems. Clearly if you dump the clutch at the red line with the steering cranked round you would be an idiot not to expect to loose out to a 180 degree spin.
Traction control can sometimes land you in real problems as it can kick in when you are trying to get out of a junction quickly.
My advice is switch the damn thing off and find someone to remove the bulb that lights up the warning light on the dashboard.
If in doubt try a skid pan day, it will teach you loads about car control.
