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The light is trigger by a small black box that could be found underneath the instrument cluster, usually clipped to the steel bar that goes under the steering wheel column.
What the box does is it counts the miles off the speedometer via a small speedo cable that is hooked up to the upper left of the speedo (when looking at the back of the speedo). The box counts up to 30K miles and at that time will close two small contacts which allows the light to turn on to remind you to check you Exhaust / EGR / Lambda Sond (O2 Sensor). You may not have a EGR if it is a CA model. Most likely you have the K-Jet system with the Lambda Sond System as well. If so then the light is to remind you to change out you O2 Sensor @ 30K mile intervals.
To reset the light just look underneath the dash for the small black box with a small speedo cable and two red wires going to it. Look at the back of the box and if there is a reset button (long black skinny button) push it to reset the counter and start the cycle all over again. If you do not see the reset button remover the phillips head screws holding the back cover on and that will expose the gears and the reset button.
If it has been a long time since you have check or changed your O2 Sensor then maybe you should sneak a peak at it. After all the light is only there to help remind you of the regular service intervals. Good Luck!
Sincerely,
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Julio Meza 1979 264GL B27F 124K --> BW55->M46, CLS, IPD Sway, 81+ Dash, Gauges 1979 262C B27F 159K --> Restore Project w/Possible V8 1984 245DL 212K -->Wifemobile
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