If your 07 has not had the regulator-connection upgrade, then it could be symptoms of your regulator crapping out. The 08's had the regulator-connections replaced with a round pin style, from a flat-pin style. To handle more voltage output. When my 07 regulator went out, all the same symptoms were there. Also, if your bike is for some reason being leaned way over the lean-angle degree (like close to on its side) then it will register a pressure malfunction from the engine. I took off the oil filter and put it back on and my oil light went off.