Hello r0tati0n,
I don't know how exactely how it works on the 789, but Fluke also uses 4 mm banana posts/socket with two separated contacts.
Here attached is an excerpt of the Fluke 1653 schematic.
The two contacts of the female 4 mm connector are identified as J1 & J2 and the detection sub-system is on the left.
When a 4 mm banana plug is inserted, the secondary of the T2 transformer is shorted.
Another sub-system of the meter provides the oscillator signal JOSC.
The JPD signal provides the information about an inserted banana plug.