1) ABS - Antilock Braking System
2) explain the chip - it is round, a bit over 1.55" in diameter. It is dark green with embossed dragons around the rim on both sides. A piece of paper is inlayed on both sides that says Bellagio Las Vegas, Nevada with $100 in the center.

This sounds kind of silly, but I believe that I answered your questions. Of course I haven't the foggiest idea what the purpose of the chip is (or was).