Just a follow up I ended up having my transmission rebuilt. The error code was real and it drove fine for 2 years with that light coming on and off. I would suggest having a transmission shop look at your vibe if you are having this warning light come on.

Gang, my 05 Vibe needs a replacement gear shift indicator. It's the plastic clear lens that shows you if you are in drive, park, and reverse. Mine broke and I am having a hard time finding a new one. PM me if you might know of where I can find one.

any chance you have the plastic gear shift indicator that goes on in front of the console?

Well that's good news I was hoping my transmission was not going out. Could this problem have something to do with the ECM recall?

help my 05 Vibe with 84k miles is giving an error code: P0741. This has something to do with the TORQUE CONVERTER CLUTCH. No transmission problems or acceleration problems (besides it being a 4 cylinder.) Anyone know if this is serious or just I reset it and forget about it?