The difference is caution vs. danger. I think the sensor is not a level sensor, but a pressure sensor. At least I would hope so. If I were designing the software that interprets the pressure, I would indicate yellow if the pressure was below a certain level, but above critical level. I would also turn off the yellow light after a timeout because it is not critical but warrants a brief reminder to the driver that something is up. I would indicate red if the pressure dropped below the critical level and leave it on unless the pressure went back above that critical level.