V-Drive Warining Light

So, the last time out on the lake (about 3 weeks ago) the V-drive warning light on my 03' Launch came on as we pulled up to the ramp. When I got back to the house I checked the oil level and it was pretty close to the bottom of the OK range on the dipstick. I added oil to the drive, but did not have a chance to take the boat out again until yesterday. We idled away from the dock and the light was still on. I knew I had oil in the drive so I slowly accelerated and the light went out at about 1500 rpm. When I slowed down the light came back on. I went through this exercise a few times, with the same result. Any idea what is going on? :confused:

It is acting exactly how it is supposed to. Read the text around the light for clarification.

the pressure switch on your vdrive unit is a normal on, it does not go off until there is at least 2psi. You may want to find your source of oil loss. place a paper towel under the vdrive unit for a day or 7 and see where the oil is. the sensor is also a source of leaking but may only show up while running .