As you say, the tools for converting between the two formats were nowhere near good enough for drawings of safety critical designs. In my experience, sometimes the conversions were barely readable.
I suspect that this was partly because of the specialist symbol sets used on signalling drawings. The Plans and Circuits software also have a level of intelligence that relies heavily on things being drawn on the correct levels. It may also have been because signal engineering designs are very rarely standard 2D or 3D designs.
The Plans software, for example, can cope with objects that have linear coordinates on a drawing that has multiple changes of scale, and perhaps no scale at all! British signalling plans are only scaled linearly, in one dimension, whereas most CAD drawings are scaled in two or three dimensions.
The circuits software was primarily intended for designing relay interlocking circuits. It could automatically allocate contacts, and produce analyses, for example.