I assume this is just the indicator letting me know that the pad needs to be replaced. How tough is this to do on my own? I've got the manual and what-not, but have never done something like this.

 

Replacing brake pads is almost as easy as putting air in the tires, well, OK, maybe not that easy but almost. I wouldn't hesitate to take on the job especially if you have a manual.

 

Just make sure that you make a note of how the anti-rattle spacers go back (there are 2) one small, and one large.
The large one may fall out as you lift the caliper, but you will know how it goes, it clicks into place. remember to reinstall the two insulating pads (white material). You will have to remove the slider pin, (its at the back above the rear caliper) you use a screw driver to remove the plug, then an Allen key to screw it out. There is no need to remove the caliper, just undo the rear caliper bolt (one closest to back of bike) and lift the caliper up, old pads drop out, new bads go in, easy. (you will have to push the brake pistons back a bit, so that the new ones have enough room to clear the disk.)

 

I would recomend hitting the caliper with some brake cleaner. Another thing, you may want to wear those blue surgical gloves because working around brakes is really, really messy (brake dust). It will keep your hands clean Very important thing though about brake cleaner, it will discolor the plastic if it makes contact. I know the tail fairing are little ways away, just wanted to warn you about what could happen.

 

I would also recommend chucking some hi-temp grease on the two slider pins if you are taking the callipers off. Makes them slide smoother.