that wouldn't help, oil cooler wires are for the oil pressure warning circuit which has a separate light.
with the light issue disconnect the plug as above and bridge it, if that helps you need a new sensor. if not the issue is with the dash temp sensor, wiring, clocks or the low level warning control relay, which is #43 above the fusebox. if you pull the relay out this completely disables the level warning circuit. if doing that STILL doesnt help its gonna be a temp sensor, wiring or dash problem.
with the revving problem, check it all over carefully for vacuum leaks to start with. make sure the sensors to the wiring on the side of the head looks ok, there should be 3 sensors there with a red/yel, reg/green and blue/white wire. all 3 sensors should have a black collar.
from the pics it looks liek its using 16v wiring to me, i can see the isv is plugged in and it looks liek the 16v ecu under the scuttle there. oh and make sure you have a vacuum line to the 16v ecu, I cant see it there though it could just be hidden.