It's a count since the last flash. It's simple, but if they look and you shredded a motor or tranny, well.
I'm not overly worried about it, but my view would be to at least flash back to normal before going in for a warranty issue like that. Don't want them seeing the gear indicator for the transmission, as they could say "tune". I'd even turn off my engine shutoff disable. And don't roll in with ZFG or Livernois Tuning stickers on the back window, lol. When you look at mine, I have an exhaust and wheels. Still likely to draw attention, but I can turn off the other stuff swiftly. Kinda why I've fought myself on lowering it; it just draws more attention.