After driving to Co Derry (Northern Ireland) on the motorway, the oil light and a buzzer came on flashing for about 10 secs. Panicked pulled off the motorway and called my father.
He came up and picked me up on lowbed trailer and took car home (100 miles away)
Brought it to a local garage and they looked at it, drove it hard and assumed that it was the oil pressure sensor. So they ordered a part from VW but it was the wrong one - the temp sensor.
After I got it back i replaced the temp sensor anyway and it seemed to do the trick.
Then 2 weeks later without any furhter warnings light came on in exactly same place. So i rang the AA and they towed me to Volkswagon in Belfast.
They put a pressure tester on it and said that the oil pump was working okay and the car was puting up presure okay, so it must be either electrical and gave me the proper sensor.
Then today after replacing the sensor the car reported the same problem ( i was driving about 75mph M2 @ 2700 - 3000 revs)
I need help cos if it happens again then Im goin throw it in the tide or burn it out with a match. I leave it unlocked in belfast hping theives will steal it - only jokin!
but there are ways to convert the green to red and blue. I didn't think the dash would be that dear??!! But who cares if the AA are willing to pay for it!! 
And a lot less hassle!!