Actually the first TPMS systems in 3,5,6 and 7 series were displaying press and temp for each tire. When I have pressure loss I get "FLAT TIRE" sign, and recently it says "REAR RIGHT FLAT" regardless it is rear left. After initializing all sensors I need to check if TPMS will determine the correct position of the deflated tire.
RESET button is in the Idrive menu.