I also installed the red warning light. Here is what is used for
- when starting the engine, it takes a bit for the EIFS to boot, meanwhile you don't have a warning for oil pressure or any other thing
- if you ever leave your master on, you can drain your battery, but this can serve as a warning/indicator for that
- have your EIS warn you about those very critical item like oil pressure, it will definitely catch your attention
Good luck