You know, I once considered applying Black Magic Tire Gloss all over the tires, but I just couldn't help but stop and think, "Maybe this isn't such a good idea...applying super slippery goop to where my tires stick to the road." And as if that wasn't enough, a more careful look at the bottle will reveal a big, fat, warning stating to ONLY apply to the sidewalls of the tires. Anyways, essentially he had traction control off and spun out...for some reason, I can relate.
EDIT: Isn't it possible that perhaps after driving on the dressed-up tires, that maybe all the tire dressing wore off pretty soon after he started driving, and perhaps just spun out in the rain? I mean, hell...if I can spin out in the dry, I'm sure it's MUCH easier to spin out in the wet.