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Originally Posted by primetime
Trans fail safe...thats not a good sign.. Your tranny is about to go south. I'd get it checked out immediately. That trans failsafe light will more then likely return and come back in a few days or weeks.
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Not totally true. I've had that warning a few times over the last 140,000 miles that I've had my E53 and there is no sign that the tranny is going south. Often it is just a software glitch that clears when the vehicle is turned off and back on.
That said, it is a good idea to have things checked out by a qualified mechanic to be sure there isn't really something wrong.