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It's really just as dummy proof feature like BlackLudeDude said. Everytime you reset it (by pushing the key into the little slot next to it) it will reset and the timer will begin again. It's just so you will never let it go for too long without forgetting to change the oil or get a general check up.
Some people get a little nervous when they see a red indicator in their car, and that's what Honda wants you to do, for the sake of mechanical checkups.
If you keep up on your maintenance, just reset it and go on with your business.
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