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The is an error code stored in the control moduel it is probably transmision related because when the transmision won't shift out of 2nd it is in LIMP HOME MODE That is a failsafe mode that transmision goes into to protect it's self from further damage.
You have to get the codes read and have the problem corected before the ligjht goes off and the transmision will come out of limp mode.
Like I said in above post You have to get the codes read and have the problem corected before the light goes out.
Did you replace the solenniod pack when you replaced the transmision?
The problem could be the solenoid pack there could also be a problem with the wiring or the pcm
YOU HAVE TO HAVE THE CODES READ.