That regulator seems like a waste of money to me.
Firstly the claim to provide Anti Lock simply by placing a pressure limit is Bogus, It can only work for one specific combination of ground friction, tyre pressure and weight on wheel, anything outside of that one set of parameters and you are either going to lock the brake or not be able to exert maximum braking force.
True anti lock that works in all situations needs a wheel speed sensor.
Secondly the other feature of balancing both brake's pressure is a negative one if you want to lock one side to turn sharp.
An odd contraption
P.S. your symptoms could be the result of leaking internal piston seals, unusual for both to fail the same though unless the wrong brake fluid was used which can wreck some seals