If I were to guess, I would bet that only one of the wires was hot all the time, and with no current flow you were reading the 12v through the winch motor to the other lead. It may not be like that, but I would guess that.
If a wire wore through, you'd just blow the winch fuse/breaker [assuming it has one] so it's not really a problem, but I wouldn't like it hot all the time either.
If a wire wore through, you'd just blow the winch fuse/breaker [assuming it has one] so it's not really a problem, but I wouldn't like it hot all the time either.