I have a 93 ranger the rest of this post is in the assumption that the 94 has the same system. It is rear wheel abs only. Hence there is no 'motor' in the valve. Only 2 needle valves and no need for a special bleed procedure. One valve closes to isolate the rear brakes from the master cylinder and prevent brake pressure from rising if the rear wheels have or are about to lock. The other valve dumps fluid to an accumulator dropping brake line pressure to allow the rear wheels to keep turing and keep from locking. When both valves are inactive, the RABS valve just passes fluid through.

If you are not getting fluid to the rear brakes, the valve might be blocked with rust or gunk. You could try cleaning it or simply replace it. I would not recommend bypassing it as the system does not have a proportioning valve to balance the front and rear brake pressures. (Ford calls it a 'combination valve'). The RABS II valve performs that function.