I'm hoping you know the EH process to check the oil on the dip stick.... If not let me know. You want that stick to at least show on the bottom 2 hash marks, but you have to check it the proper way...
As for the lite.... Its probably the injector throwing the code, but since you really have a new X, that has sat around for quite a while, I'd read it just to make sure. You can use an OBD I code reader if so desired, but i'd suggest the suprXtune.... It'll be handy later on. It'll read all the codes... You are correct on clearing the lite on switching it on and off. I've heard all sorts of numbers..... Give that a try, or clear it immediately with the tune program.
Sorry about treating you as a newbie, but not enough information in your post.
Curious as to what you used for a liner... If you didn't use the red liner that Jamie applies... There will be some issues if you use ethanol...
Do you have a fan assisted oil cooler.. Sorry, but this and the tune are crtical for the long life of your X.
They are a great bike..... And very pretty
Whitefoot