The Brake Pad sensor is essentially a wire that once worn through throws the warning light.
It's possible that the wire broke inside it's insulation, or that the electrical connector is either not tight or corroded and not allowing the circuit to complete. Check these out.
Also, a week ago I helped a friend swap the rotors and pads on his 328i BMW (which only has two wear sensors - 1 on each axle). After completing the job, which included new wear sensors (same concept as the Porsche ones), his warning light did not go off.
We hooked up my generic Actron PocketScan Code Reader CP9125 and the car read 'no codes'. But, when we started the car again, the brake wear warning light was off so I guess the code reader reset it. So you might try that as well.
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