2000 X5 4.4i Auto Trans Fail message

[eternaldj]

Ok I know I am not the first person to bring this up, but I am getting this message and I want to know where everyone stands on this.

The person I bought the X5 from told me about the message and if I ever got it to just remove the console clip around the shifter and then spray some compressed air in towards the bottom of the shifter. He said the best solution he came up with was that there is a sensor or micro chip back there that can get dust on it and make it go wacky. This sends the transmission into fail safe mode and then restricts use of the higher gears I guess. Well right after getting the car and driving it, I got the message and sprayed the air and it went away. Was I lucky? or am I in store for some serious repairs?

Can that sensor be replaced?

Please Help.

Thanks Greg