Not sure what light you are describing, would suggest that you refer to the drivers handbook which should give that detail.

If all things are ok then you shouldn't have any warning lights on when running.
As for the engine problem would suggest that you have a diagnostic check carried out as this should then identify the particular problem.If not then would suggest that the ECT is checked out (engine coolant temp) sensor, followed by the TP (throttle position) sensor and then the MAF (mass air flow sensor).