basically you need 2 loads one for negative and one for positive, infact if you rectify and smooth the feedback voltage you should be able to get the two to work in harmony, I think diodes for each power branch would be a minimum to ensure no wrong conductions. I thiunk what we are also looking at here is that you need a constant power resistor load that can vary. What most of us assume when someone says dummy load is a constant current sink.
Interesting idea, although doubles the price. Constant power is useful for things like overall performance of the H-bridge and verifying thermal dissipation, but maybe I will have to build something myself.
I'm starting to think that I would be better with something custom, more like a motor simulator, maybe with more motor-like effects (charging slope of the inductance first - BK Precision simulates that, then spike when switched, back EMF when simulating no-load spinning etc). I suspect this might be very difficult and it is a very niche market. People usually go the other way around with some motor with a driver connected to MATLAB/Simulink where they tune control loops or characterize the motor.
I often use ACS712/ACS758 current sensors, mostly for just over-current protection and to the ADC of a MCU for monitoring. Now I'm thinking about doing a constant current (therefore torque) H-bridge drive purely in the analog domain (driven from a DAC, with outer control loops on speed/position done in the MCU). I don't know if this setup with 2 DC loads will work well for tuning such circuit.