It means you have trouble codes for the transmission. Engine codes flash through the check engine light, transmission codes flash through the overdrive light. You probably have a solenoid going bad, has it ever not upshifted or downshifted correctly while you were driving? Check the codes and see what number it gives you. If the solenoids are going bad, I can get a pair of aftermarket solenoids for about $100 (#1 and #2), I think the dealer gets about $140 ea! The solenoids usually fail long before there is any mechanical problem with the transmission. Many many people have been talked into an expensive rebuild when all that it needed was a couple shift solenoids and a fluid change.
exactly what aaron said. besides the solenoids, it could be a problem w/ the speed sensors. if your speedo doesnt work, it will set a code for sp1.
i also want to add you need to fix this asap. if the ect sets a code it will go to default shift schedule. that means, it wont upshift properly, wont down shift to save its soul, and the converter wont lock. i bet your mpg is in the crapper too. thats why.
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