I would guess that there is air in the system, I've seen quite a few of these vehicles in the shop. On the Tacoma, there is a specific bleed procedure that needs to be performed with a bi-directional scan tool that will command the abs pump on to bleed each wheel individually. using an old school pressure bleeder just pushes the air around, not out. you can foot bleed that vehicle until your blue in the face-with no luck. my recommendation would be to have a local shop do it. Anyone with an adequate scanner can do it. (It's listed on the function test on the snap-on solus) Good luck.--nick
I agree with this thought process. Have the brake booster to master cylinder interface checked too. Sometimes when a master cylinder begins leaking it will do so at the rear most seal, where it's attached to the vacuum booster (drum shaped unit). They will either leak where the fluid runs down the underside of the booster/master connection or on the inside of the booster where the only way to verify is to disconnect the two pieces and look for a leaking rear seal.
But, I would first try draining and refilling the entire brake system by proper bleeding technique. Here's why. 45K miles; if the brake fluid has never been changed would be a good time to renew the entire system with fresh fluid of the correct brand and specks for your Toyota model and year.
Brake fluid absorbs moisture, moisture condenses and also is compressible unlike clean brake fluid, thus leading to symptoms like squishy pedal feel. AND water/moisture in the fluid will boil on hard braking, resulting in brake fade, etc.
So with clean brake fluid a marginal seal will sometime shortly thereafter fail due to correct pressures inside the system being restored, or contaminants being flushed out. Either way clean fresh fluid is a good place for one to start, especially since you aren't familiar with the prior 45K mile service records, correct?
I say all of the above from having owned and run a foreign auto service and repair/sales shop here in VT. What with all the mountain climbing nearby we did a huge amount of brake work.
Now my personal experience with a 1998 extended cab Tacoma and a 2003 Tacoma double cab, both 4x4 and equipped with drum rear brakes/ABS, and cabs on the beds is that their brakes were not particularly impressive. Now the 3 Forerunners, I've had, a 2007, 2011, and current 2015 model have much better brakes, BUT they all have 4 wheel discs, instead of the Tacoma rear drums.
So, get it checked out for safety of the entire braking system by someone ASE certified, who has the correct brake bleeding and diagnostic tools to do the job.
Post back results....