Just bought a 97 Aurora and had tires put on front and balanced. Now traction light comes on while driving and RPM goes to 0. After I pull over, it will run fine...What could be the problem?

Having an alignment done usually only corrects the car pulling to one side. Check the rear tires for balance and wear. You may also want to have them rotated to the front to see if the vibration also moves to the front.

sometimes pulsating feeling comes from the rotors being warped and thepulling may be a badcaliper

HAVE YOU TIRES BALANCED

Have the tires road force balanced. it will put a load on the tire when its balanced and any hidden tire defects will show up.

This is some what normal for front wheel drive and four wheel drive, when it's in four whell drive. I would check the swaybar links and traction bar. both in the front of the vehicle. Sway bar goes from tire to tire mounted to the lower control arms. and traction goes from one tire to just past center, mounted to the frame.

You want the tires with deeper tread on the front of the car. As you drive, being front wheel drive the front tires do all the work, the rears are just along for the ride so the drive tires will wear down twice as fast. About ever 6000 - 8000 miles, you will need to rotate the tires to keep all 4 wearing evenly

i believe the button is located near shifter.

yes all auroras are fairly loaded vehicles that come with 4 wheel abs standard with traction control.

bulb check with key on should illuminate all bulbs.

high speed vibration likely caused by your tires/ tire wear could be cause by alignment -have it checked. while checking alignment they will check steering and suspension compononts and rec any repairs needed.
idle vibration may be normal depending how severe due to age of engine mounts.

my experience with auroras is that they are very high tech high optioned which leads to a chance of falure more often due to more systems. however my opinion is they are VERY nice rides and i think you will enjoy it. keep in mind vehicle is 9 yrs old and expect some expense

wheel bearing about to go bad.. Notice any slight roaring noise??

It sounds like a possible bad front wheel bearing they will make like a humming or growling noise.The pull could be air pressure a little lower in the right front tire than the left front check the air in all tires and if pull is still there take the left front put it on the right front and put the right front tire on the left front.Sometimes tires get what they call radial pull and that will fix it or make it go the other way if it goes the other way either get new tires or put the back tires on the front of the vehicle and put the front tires on the back.

Most shimmies come from tire/wheel/balance combos. Before your dollars go down on 4 tires(assuming you have good tread), rotate tires & if there is a change you can figure out the offending unit