P and B,
When I had a dual blowout because of running over debris (it was apparently one or more of those black rubber tie downs with metal S hooks on them... the hooks got my tires) my TPMS alarm went off and I pulled over before the tires flew apart. They were still hissing when I walked back to look at them but were totally flat in (a guess here because I was pretty adrenalized) two more minutes.
One data point is not much but I credit the TPMS with preventing trailer damage at least in this scenario.
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