Yes, it is under the edge of the dash just above your knees when sitting in the drivers set.
Repair the problem first. You can try disconnecting the battery for 30 minutes. If that does not work you will need an OBD2 scan tool.
The OBD2 system will not BLINK codes for you. It requires a engine scanner to read the codes. HAVE ENGINE SCANED. Some parts stores will do that for free.
this could be a bad plugwire or sparkplug or a bad coil for cylinder 7.
If you did not fix the problem that made it come on, Then it will do no good to clear the codes because they will just come right back. To check and clear the transmission codes you will need a OBD2 engine scanner. Some parts stores will scan it for free. Call some and ask.
Yes it will if you know how to use the scanner.
Depending on the year, use either an OBD1 or OBD2 code scanner. You can borrow, rent or buy a code scanner from most auto parts retailers.
Yes. It is located under the dash on the driver's side.
There is no way to tell you, because the timing is controled by the computor. You can not use a timing light. It requires an OBD2 engine scanner to set the timing to specs.
Blinking means that the control computer has detected a relatively serious problem. You should connect to an OBD2 diagnostic scanner and find out what's wrong, and do it soon before something is damaged.Many auto parts retailers will allow you to use a scanner and often someone will help you connect it and read the results.
Under the dash
No. You can not change to OBD 2.