In July this year purchased a new Premier pontoon boat. Had second thoughts on 2 stroke engine, made by Evinrude. Been out 6-7 times on lake with technical issues developing. Low oil, no oil, hot lights cycle on with a short audible beep. Occurred 3 times in a 30 second interval. Few additional times as well. Engine did not go into safe mode. Oil tank full and impeller is working fine based on water exiting engine hole. Going to take boat back to dealer who is 2.5 hours away. Based on posts, this seems to be a common issue with the etec engine. At end of ride I would have expected less oil in reservoir at end of ride. Possibly oil pump issue.I use the EVinrude XD30 oil that dealer recommended. Have used two full gallons to date.
Are you certain you are not just observing the power-up gauge check function? Sounds to me like you are experiencing a momentary loss of power to the gauge and it is performing the power up self test. It would have nothing to do with the engine.
Reseat the cable going into the system check tach/gauge and see if the issue persist. By it not going into SAFE mode it is more likely a bad connection or a bad gauge. You should be running XD-50 in your engine it is a semi-synthetic blend with a carbon inhibitor blended in to called Carb-X. The absolute best oil for your motor is XD-100.