Here's the skinny
Alright according to Howard, the developer of the Cool-Down Timer,
"You guys have hit the nail on the head. The timer only activate one electrical node, the one needed to keep the engine running. The node that powers the ABS, air bags and many others has no power to them, so the indicator light is telling you exactly what it should - The ABS, Air bags, etc. are not working. As soon as the key is turned on, the other nodes will receive power and all will be well. " This was posted over on DTR.
Now as for the chime, it was either because my truck door was open or my seat belt was not connected. Tried it out tonight, took the yf out for her BD, and at the restaurant parking lot, no chime this time, but I did get the ABS and Air Bag indicator lights, but they do go out when either the truck shuts off or you start the truck before the timer has shut the truck off.
But according to Howard this is 'normal'.
Get one, price is right and installation is a piece of cake. Hope I answered all of your questions or concerns.
Take care,
Casey