Venom SHO s7:
WARNING: Long Explanation.
Since you cleaned the sensor,you probably have the same problem i had, its this here:
Inside the clear coolant reservoir tank is a small circular black tube that is held in place a gray cap that also holds the sensor plug.Inside this black tube there is a floater (like the one in your toilet) with a metal piece attached (like a dip stick).
How It Works: When there is enough coolant in the tank, the floater will obviously float high enough to make contact with the metal connector at the top of the tank (the one being held by the gray cap). If there is not enough coolant, the floater will not float high enough to make contact therefor making the low coolant light go on.
Keep in mind :The purpose of the small 'black tube' is to keep the 'floater' from dropping to the bottom of the reservoir tank when there is no coolant, and to guide the the metal stick of the floater into the connector at the top of the tank.
THE PROBLEM: This black tube is actually split in two pieces, and when the bottom piece comes lose from the cap, it will drop to the bottom of the reservoir tank and therefor will not be able to guide the metal floater to the connector, or keep the floater from dropping to the bottom too.
WHY ADDING COOLANT WILL NOT WORK: When you do add coolant the floater will go back up to the top of the reservoir tank, but since the black tank is not there to guide it into the connector anymore, it will not make contact with the metal connector at the top and thats why it will not make the low coolant light go off.
EASY SOLUTION: Unplug sensor from the tank, and the hose that goes from the tadiator to the reservoir tank. Take off 3 10mm(i think) bolts that hold the reservoir tank bracket in place and pull out the whole tank. Now pull out the gray cap, if you look at it from the top it looks like this. (I). With that out, you should be able to see the 'black tube' and the floater piece sitting at the bottom of the reservoir tank. Take them out and simply snap the black plastic tube to the gray cap, BUT make sure you put the floater piece inside the tube first. Make sure its on tight enough as to not fall off easily. Put it back together, add coolant, and you should see that light go off immidiately.
Sorry for the long post. But maybe this post will stop all the "low coolant light" threads.
(i did this on my 89, so hopefully the genIIs are the same way)