usually it means it's not working,, i just had this problem, my light was coming on too,and it was not working, as did another member here,,
what we did was start by taking out the back sensor on the rear differential and cleaning and making sure the wires were connected well, as well as the same thing with the front connections,, mine ended up being the back , the wires were coated with alot of ice and snow,, thus putting pressure on the connection , after i cleaned all the crap off it and put it back in, it woks , and no more light,,
there is ways to test the sensor , i am not sure , one of the techs on here might chime in and tell you the test procedure,
check the connectiond first , it might be that easy .