Hmm, it's really weird. Even with the DMM on 2M ohms, it's still reading nothing. Well, mostly. I tried it a couple of times, and sometimes it would flash up to like 1.8M or 1.7M for a second, then go back to "OL" (the default when nothing's connected.) But most of the times, it wouldn't budge from "OL".
The rope sensor is stamped that it's made by RLE Technologies, but I didn't find a similar one on their website, and the ones on the website don't look like the one on the device either. On the device, the two black strands seem to be basically embedded in the plastic, rather than having some sort of jacket over the sensor wires; unfortunately, the ones on their website don't really tell anything about the product's characteristics :/ It definitely makes sense that it would be resistance, but it's not acting like it.
When I had the case open, I put my DMM on the leads, and about once a second, it would pulse about 4mV.