You are very close. That first light is the DSC, dynamic stability control. It usually flashes on and off whenever you drive aggressively (hmmm, can't imagine how I'd know that

) and the DSC system kicks in and causes the engine power to get electronically modulated so as not to break the back tires free. There is a little button on the center console in my car, just in front and to the left of the shifter with the same acronym printed on it. Pressing this button causes that light to get illuminated permanently and switches the DSC system off allowing you to smoke those expensive rear tires of yours!
Right now, my car is experiencing a similar problem, of sorts. When starting the car cold, it works like a champ. However, stopping and restarting the engine once it's warm causes something strange to happen to the throttle by wire/engine management software. After restarting, every time I let the clutch out in first gear while at a full stop, the engine RPM's drop 5-600 RPM often stalling the engine. Then it jumps up and accellerates somewhat normally. I say somewhat, because it feels like it's about 60% of what I'm used to.
My check engine light came on about 2 weeks ago and has stayed on - pretty much coinciding with when this problem started happening. So I sent away for a Peake R5 fc something or other engine analyzer. Just got it yesterday, so I will post my results shortly once I get my hands dirty.
I'll also write up a review of this device and let you all know how it works.