Re: Can somebody tell me??
The overdrive light flashing means there is a transmission fault being seen by the powertrain control module. There are quite a few things that it could be. It could be anything from an intermittent vehicle speed sensor signal, to a shift performance code. In order to figure it out, unfortunately it will have to be hooked up to a scan tool.
If i was to guess what the code is, it's probably a torque converter clutch code (p0741, p0742) which means at freeway speeds when the PCM (powertrain control module) is commanding the torque converter clutch on, it's slipping or not engaging which could be anything from a worn stator support seal, faulty torque converter clutch solenoid, worn out torque converter clutch, etc. etc.
Sorry for the bad news.
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2005 Suzuki Hayabusa GSX1300-R
1980 Ford Thunderbird - 255 V8
ported heads, 5.0L ported stock headers, O.R. H-pipe and Flowmaster 2-chambers, dual roller timing chain
hi-po Mack Truck hood emblem 
1985 Mustang GT 5.0L T5, F-303, GT40p, headers, off-road h, flowmasters, MSD stuff, etc.
Sold 02/06/04 
1989 Mustang GT ET: 13.304@102.29 mph (5-24-03)
Sold - 1998 Mustang Cobra coupe, 1/4 mile - street tires: 13.843@103.41 (bone stock)
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