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This sounds like it is probably a problem with the neutral safety switch or the brake switch. Have you checked to see if you have brake lights? If you have none at all then it is most likely a faulty (or disconnected) brake switch and they car does not know that you are stepping on the brake and as a safety precaution will not let you take the car out of park. This switch is located up under the dash up higher on a bracket behind the brake pedal, it may be black and blue in color and consists of just a plunger in a square body. If you do have brake lights then it sounds like a problem with the release switch in the gearshift itself, in the Ford dealership I worked at this meant replacing the whole gear shift assembly. If it is the brake switch it means just replacing that one switch.
The blue and white wire coming from the unit is meant to connect to an electric antenna and if you don't have any then you can just isolate it with some tape and leave it.It will not affect anything else.
I'm not quite sure on a Toyota, But on a Acura it just meant that by mileage your getting close for your 7500 mile service. then when the light stays on that means your due for the service. also check your owners manuel.