Found this in the corvette section. Answers a lot of my questions:
One-to-Four Shift Light
(Manual Transmission)
When this light comes on,
you can only shift from
FIRST (1) to FOURTH (4)
instead of FIRST (1) to
SECOND (2).
You must complete the shift into FOURTH (4) to turn
off this feature. This helps you get the best possible
fuel economy.
After shifting to FOURTH (4), you may downshift to a
lower gear if you prefer.
Notice: Forcing the shift lever into any gear except
FOURTH (4) when the 1 TO 4 SHIFT light comes
on may damage the transmission. Shift only from
FIRST (1) to FOURTH (4) when the light comes on.
This light will come on when:
•
[COLOR=blue !important][COLOR=blue !important]The [COLOR=blue !important]engine[/COLOR][/COLOR][/COLOR] coolant temperature is higher than
169°F (76°C),
• you are going 15 to 19 mph (24 to 31 km/h) and
• you are 21 percent throttle or less.
Read more:
http://www.corvetteforum.com/forums/...#ixzz3y9MwF1SY