If it's a Discovery3, you can reset this by turning the key back and forth to position 2 three times in a row. (without starting it.)
If it is orange it is the traction control light, if it flickers the traction control is working, if it stays on you have a fault in the system and most likely also a fault in the ABS. If it is red it may be the warning light for transmission overheat, this comes on with the hand brake to remind you not to leave the car idling too long.
how to remove the transmission on 2004 land rover discover
how to remove the transmission on 2004 Land Rover discover
There is not transmission dipstick on the 2001 Land Rover Discovery.
It is possible that the traction control module is not working and may need replacing.
The 2001 Land-Rover Range-Rover has a 4-speed automatic.
The 2002 Land-Rover Range-Rover has a 4-speed automatic.
No it will not work.
The 2013 Land-Rover Range-Rover has a 8-speed shiftable automatic.
The 2003 Land-Rover Range-Rover has a 5-speed shiftable automatic.
The 2012 Land-Rover Range-Rover has a 6-speed shiftable automatic.
The 2011 Land-Rover Range-Rover has a 6-speed shiftable automatic.