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That light is indicating that your "pursuit lights" are on. It all depends on how it was wired to indicate what is triggered, but just flip the switch and you should be good to go.
The "P" on the Tach is really for Passing mode. During passing mode the Fuel injection pressure is boosted up to 65 lbs. The exhaust modulator valve is full open and the timing is advanced 15 degreees to give you more passing power.
Use the Passing mode with caution especially if you do not plan on passing as it will effect the mileage and give you more perfomance than you need to sustain normal traffic speed.
Infact the other day I had a metric bike pull up next to me at a stop light and without him knowing I switched on the "Passing Mode". When i took of at the green light it was all I could do to keep the front wheel on the ground, I got tunnel vision and by the time I got control of the bike, the metric bike was so far behind me I could not see him anymore.
One note not all harleys have this mode. It is a special secret that you probly dont want your friends to know about. They will get jelous and not want to be your friend anymore. It is OK thought there are more people on the Short bus that will talk to you.
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