Following the advice above, this seemed to have no influence on making the coolant system cycle the fluid. As the M54 water pump is belt driven, I don't see how it could work with the engine off?
Anyway, I bled the system with the engine on, but I'm still getting the intermittent issue of the coolant light coming on and off during a journey.
When checking the coolant level at cold, it's at the maximum level, so I can only think that there's an issue with one of the sensors as there doesn't appear to be a leak in the system and the coolant level continues to remain at max.
The only other issue I can think is that the coolant looked very pale, almost clear, so I think it's time to flush the system completely and replace all of the coolant as the colour would suggest much more than 50/50 ratio of water to coolant. Could a higher ratio of water in the mix be causing the coolant to boil over and set off the coolant light?
Andrew.