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This is something that all F355 owners will experience at one point or another. This thread can act as a resource for all things known related to it.

When you see this light it is telling you the cats are overheating. There are 3 ECUs, 1 for each Cat and a third will trigger the check-engine light. If the ECU goes bad the light could still be triggered when in fact your cats are not over-heating. However, it is best to not take the chance so be sure to have the car checked right away by a dealer/mechanic.
 

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most common cause as mentioned above are the thermal couple ecu's, give the exhaust tips a good kick whilst engine is not running and try to listen for rattles, these are the signs of deteriorating cats, if you hear these noises start saving or stealing.
 
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