HI everyone

From NZ, and just picked up a mint '11 RS with just 3 thou on the clock. Great machine. Problem though - PO520 shows on the digital screen.. please check engine.
Taken it to Can Am mechanic who told me what the fault code was. Oil pressure is excellent.. at idle psi is 50, and at 5000rpm psi is 50, so well within ranges from what i understand.
Mechanic reckons this code PO520 is very rare and its already cost $300 , and getting absolutely nowhere. His one positive thought wads to run a new length of wire next the sensor wire and cut inot it and merge, so as to possibly bypass any wire damage. Next option he said was to get into the pcu etc - all with no real enthusiasm that he knows what he's doing.
Is it safe for me to run the bike with this fault code? When the bike first starts, the code comes up. TUrn it off and start again, the code disappears - this he thought was also very strange as he's not seen it before. Just bought the bike and it seems to have logged this fault now 88 times. Just had oil change and new filter last week. Thoughts????? Reading these posts, wow.. so much knowledge! They're fabulous bikes huh.. and I think I'm already converted from 2 wheels