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Transmission fault code V70-XC70

Just bought '98 AWD with very worn front bearings. On highway trip home transmission fault light began flashing when torque converter apparently didn't lock up or slipped going up a long hill. It eventually did lock up I don't think it stayed in the "limp home mode", at 60mph the engine ran at about 2000 rpms. My local mechanic's relatively rudimentary diagnostic equipment only noted a torque converter event. I've got two questions please; one, can the added resistence of shot wheel bearings cause a hic-cup in the lock up transisition at highway speed and second, can a Volvo service tech mine the computer and recover the origional fault code entry?
Thanks in advance for any assistence.






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