abs channel???
I would think that you could change a 3-channel rear to a 4-channel setup by replacing the axles with 4-channel ones(with exciter rings). And also swapping the brake backing plates(4-channel sensors are mounted in the backing plates).
To change a 4-channel rear to 3-channel you would have to have the center housing machined for the sensor. This would be very difficult to do in my opinion(and exspensive).
To check if you have a 3-channel or 4-channel look for sensors in each of the brake backing plates and wires going to them. If there are sensors in the backing plates you have a 4-channel setup.
You can run a 3 channel rear in a 4 channel rear. Your BRAKE, ABS INOP, and ASR light will be constantly on. Obviously you will lose ABS and Traction control.
I recently did this in my freinds car and it was fine (except for what I stated above)

