Ok, I will answer my own question for anyone else wanting to know about the shift light on the GSX-R1000 K5
1. Push and hold down SEL button while key is off, turn key on still holing down SEL button for 2 seconds, release button when display changes to shift light mode.
2. Push ADJ button to cycle through options. shift light on, shift light flashing, shift light off. Pick your favorite. ( I like flashing)
3. Push SEL button to control the led shift light brightness, Push the ADJ button to cycle through the 5 settings from low to high.
4. Now Push SEL button from light brightness selection mode.
Push the ADJ button to change preset rpm from 5000 up to 13750 RPM's. Stock setting is 11000 RPM.
now push the SEL button to fix selected setting.
Turn off key setting is saved.