Remove the speed sensor from your transmission, clean it and reinstall it... That will work many times... note if it's covered with magnetic filings, like hair... That's normal wear form the transmission...
If cleaning doesn't work, then you may need a new one.... I don't have the test for a VSS nearby, hopefully someone will post it up...
Like others have said. Pull the sensor and check for trash on it. The sensor is magnetic so it collects steel particles. This happened to mine and that's when I realized that the main trans bearing was on its way out.......
just because a code points to that area, does not mean that the sensor itself is bad. it just gives you a point where to start troubleshooting. it could be a broken wire, if you replace the sensor, the wire's still broken, you'll still get the code. do what the guys above have suggested and clean your existing sensor, clear the code, and see if it comes back.
So dumb question. I don't have the problem but was thinking along the lines of preventative maintenance. Do your recommendations on cleaning apply to earlier Touring models? I have a 07 RK.