the orange "up" arrow came on and began flashing yesterday on the dash, i looked in the manual, and it says that this indicates a "fault" in the automatic gear box, can anyone advise what this may be, hopefully not a hard fix

 

It sounds like the PNP switch to me. (park neurtral possition)

Search around about it, and you will get all of your answers. (its pretty easy to get to, and fix. if you replace it go with OEM since the aftermarket ones are said to be junk. You may decide you need to get the special tool for alignment...

This will all make sence when you read more about it.

I'm pretty sure there is a write up on Volvo speed for this in Bay 13 (maintainence section)

Anything else needed, or more guidence, just ask. =)