yep it would go away if the problem is repaired
as for the software you can get it from impco, it is the spectrum psi software and i do not believe it requires any special adapter decoder box unless its a later tier 3 or 4 model, those might need the decoder but its been a while since i worked on one so maybe someone else could answer that. You can use a standard db9 serial cable or possibly a db9 null modem cable.

I couldn't remember about that light at first and was looking in the manuals for it but now that i think about it i ran into the same problem and discovered that myself on a cube model. The GT models are setup a little different so i couldn't answer that for sure at that time.