Unplug the water in fuel sensor wiring from the bottom of the filter and see what happens. If the light stays on you've got a wiring or computer problem. If it goes out the problem is with the sensor. I don't think much can go wrong with the sensor, wonder if there is just some crud in-between the two sensor prongs.
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95' 25004X4,AT,Driftwood,Banks Stinger,Warn fender flairs and running boards(work truck)
95 3500,5 speed 3:54,BD E-brake,Driftwood,Banks&Psycotty,34,000 GCVW apple and tractor hauler(works harder truck)