I would treat this like any "low brake pedal"... I'd first bleed the system and see if that takes care of it. Those lights can come on due to a whole list of issues, a low pedal is a "mechanical" thing, you have something physically wrong if the pedal is low. I have heard of the brake controller wearing out - the only fix there is a new one - you don't want to do that unless you are absolutely sure that is the problem.