When I rebuilt and refreshed my 74' Commando this past winter, a new wiring harness was part of it. I bought the bike from the original owner and he had recently replaced the assimilator unit.
I owned another 850 that the unit was fried/didn't work and it didn't bother me in the least, especially at the price of replacing it. When I rewired the 74' over the winter, for some reason the red warning light stays on after starting and never goes off. My bike is stock with turn signals and all other accessories, so I was puzzled that the assimilator light, which functioned correctly before the new harness, now stays on. New stator, new rotor, new MOSFET. Battery voltage right where it should be and voltage increases with RPM. Charging as it should.
I have LED in the warning, turn and high beam indicators, (cool running and brighter) so now I just consider the red light as the "ignition switch on" light. My 1966 Triumph Bonneville has the same set up, one lonely red light in the headlight shell telling me the key is on. I find it far more useful than a light to tell me my charging system is working. Just my 2 cents....