Why is a small light flashing on my Elite 10 Gauge when my engine is running?

The little red light on the near the bottom right-hand side of the gauge is a warning light. If this light is flashing this means the needle of the gauge is within the programmed warning level.

To change the High and Low warning settings, please follow these procedures below. \

High Warning:

1. Press and hold the COLOR button for 5 seconds to enter the High-warning setting mode.
2. When the needle is flashing and the warning light is on, you can now program the High-Warning Mode Value.
3. Pressing the COLOR button will move the needle clockwise while pressing the SET button will move the needle counter-clockwise
4. Holding either the COLOR button or the SET button will move the needle in major increments in the button's respective direction.
5. After 5 seconds of no button activity, the gauge will return to its normal operating mode.

Low Warming: 

1. Hold the SET button for 5 seconds to enter into the Low-warning setting mode.
2. When the needle is flashing and the warning light is on, you can now program the Low-Warning Mode Value. 
3. Pressing the COLOR button will move the needle clockwise while pressing the SET button will move the needle counter-clockwise.
4. Holding either the COLOR button or the SET button will move the needle in major increments in the buttons respective direction.
5. After 5 seconds of no button activity, the gauge will return to its normal operating mode.