42/43 relay is clipped above the fusebox in a separate relay holder, but its only fitted to pre-90 MK2s (hazard switch on dash) and those with a 'digifiz' dash. 90spec models the coolant warning is all built into the clocks.
try disconnecting the yellow/red wire from the sensor on the side of the head, if light continues to flash its deffo the level warning circuit or the clocks at fault. If it stops, chances are its the sensor thats bust. try connecting the red/yellow wire to one of the other 2 sensors, see if the light comes back.