I have a similiar setup and get that along with an 0420. I was told that it is the computer thinking the cats are not functioning correctly but in fact the hi flo's are too free flowing. Mine usually pop up after a nice romp thru the gears then stop and set at idle for a few minutes, blink on goes the light. And this happens after tuning. I have an early set of the Random Tech's, they are supposed to have resolved the issue with later production. Hope this little info helps some. 
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'02 eb Z, gone.....but not forgotten. Onto the '70 RS 'maro, slight rebuild project.
NCM # 23306 Fest Member 2, 3, 4, 5, 6, 7 Ocean & WinterFest 1 & 2
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