It sounds like the sensor is faulty...
If you're happy that you have enough oil and you can see the pump is turning then I wouldn't worry. Just make sure you change it regularly with the filter and keep an eye on the level.
You could drain the oil while hot and see how much is in there. Should be around 3.7-3.9 litres. It's not too fussy.
Pulled from another forum... :
For oil temperature LCD readout, there are 10 BARS, with no bars showing to be taken as zero bars:
0 33.5° C ..... 92° F
1 40° C..... 104° F
2 65° C..... 149° F
3 80° C..... 176° F
4 90° C..... 194° F
5 105° C..... 221° F
6 130° C..... 266° F
7 150° C..... 302° F
8 160° C..... 320° F
9 170° C..... 338° F
10 175° C..... 347° F
Modern oils are designed to work best in the range of 110° C...130° C (230° F-266° F).
This means about 5 or 6 BARS. Above 150° C (302° F), oil breakdown increases exponentially,
and by about 160° C (320° F), degradation is quite rapid. Petroleum oils will cease to lubricate
with any effect, at about 170° C (338° F)...synthetics at about 190 C (374° F).
A reading of 8 BARS would be the absolute maximum normal operating temperature.
__________________
Did some trips.
Rode some bikes.
Fix them for a living.
Can't say anymore.
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