MK3 GTi: Temp warning light

Has anybody got any experience of the temp warning light flashing even whne the temperature guauges indicate everything is ok??? It also comes on when you start the car cold...

It flashes to indicate a low coolant level in the reserve tank. If the level isn't low then the sensor in the top of the tank may be bad.

Thanks Boschmann, however i think the water pump is gone... Do you know if the water pump on the 93 2.0 8 valve engine is attached to the timing chain, or is it located in front of it??

If the water pump is leaking it will first manifest itself as a lower the coolant level & turn on the light (flashing). Once the engine warms the coolant expands enough to turn off the light. With a loss though it will eventually get low enough to be on all the time. Make sure it's not leaking from the flanges at the cylinder head (where the radiator hose & heater hoses hook in). They commonly crack & leak. The water pump is behind the timing belt & it would have to be removed along with the intermediate shaft sprocket and rear belt guard. I find it easier to go from that direction. I have heard others try to go around & remove the A/C & then remove the entire water pump housing, thermostat and pump together from the other side, but that seems alot more trouble just to avoid taking off the timing belt..