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Quote:
The Service Indicator consists of five green, one yellow, and one red light and the inscriptions: "Oil service" and "Inspection" located on your instrument panel.
Whenever the ignition is switched on, up to five green lights will light up, then depending on vehicle use and driving style the green lights will systematically turn off one by one. As you approach the last green light, this is an indication that the next service is almost due and helps you to make any necessary arrangements on a timely basis.
When the last green light turns off, a yellow light appears with one of the inscriptions (Oil Service or Inspection). This indicates that your next maintenance service is due immediately.
If you continue to delay maintenance service, the yellow light and red light appear together with one of the inscriptions (oil service or inspection). In the interest of road safety and reliability you should avoid driving your BMW and have the essential work performed without any further delay.
( tekið af
http://www.gms.cc/maintenance.htm )