Yup, you guys are correct. It is meant to cut the fuel off in the event of the bike falling over or a crash.
I personally am not happy with it. Maybe I'm just kind of angry because even after I pushed the bike to level ground the bike would not start, killed the battery trying to figure out why and ruined my mood after a good ride LOL.
I've had that happen to me before. Just turn the ignition off and on about 5 times to clear it. I also got a bar readout instead of the drive letter on the dash when it happened. Doing the reset cleared it too.
I have had the oil level light flash at me several times. The first time was siting on a 25+ degree incline while waiting on the other riders to gas up and go. I was really concern about the warning since I was 70 miles from home and did not know how serious it was.
After looking in the big service manual, I realize that with 7 service sensors on the bike the oil level sensors are very sensitive to the level of the bike.
If your oil level is OK your good to go. It's just some good extra Honda protection.
It's a good thang, the transmission shares the engine oil. It cost $5500.00 to replace. Not that that's gonna happen, It's a Honda, don't worry, be happy!