Yes sounds like the clock spring is broken.This sounds like a faulty clock spring behind the air bag on the steering wheel. I too had an air bag light with no horns, but a new clock spring cured it. You will need VCDS to confirm this. I don't recall the DTC's.
Did you just check for opens or did you check for crosses and shorts? If you check for all these then the test is conclusive.My bad clock spring did show continuity with an ohm meter, so IMO, that is not a conclusive test.
Strange.I thought I had checked for both opens and crosses. I pulled it apart and the ribbon wire looked fine.