It is a diagnostic light. Push the little button next to it and it will indicate things like, washer level low, or radiator low, or blinker out. I think that if everything is full and working the orange light goes off. I have not reached that state of perfection so I do not know that it goes out for sure.
When you turn the key to the start position the light will come on and be red, give it a second then it should say OK in green, that means everything is cool. Thats been my status for a while. But getting there, now that was a *&#@#* chore!!