On my 02 Raptor if I have the bike in neutrul and hold the rpm up about 2 or 3 thousand for about 10 seconds the reverse light will start flashing.Is that a warning indicator?I haven't noticed it ever coming on before.It doesn't come on if I am riding.Thanks.

 

There is no problem. It's a diognostic indicator. Turn off the ingnition & it'll reset.
Do a search there's a complete explination about it.