yes you can drive it with this warning on as it telling you that the sensor in the catalytic converter is faulty, but 9 times out of 10 you'll find the sensor is blocked with carbon (sooty deposit on the tip of the lamda sensor) which is attatched to exhaust system in the engine bay. if its blocked then you'll need BRASS wire brush to remove the deposits, refit the sensor if the warning gose out after 3 second then you've fixed it, but if it still flashes take it for a spin to get the car upto normal operating tempretures, if it still flashing or stays on you will have to replace the lamda sensor they cost on average 30-60 pounds depending where you buy it. there are plenty of after maket suppliers who are cheaper than the main dealers. good luck
derek, February 2009