From -
http://continuouswave.com/whaler/ref...Injection.html:
"Each time the key switch is turned from the OFF to ON position (engine not running) the warning horn will sound momentarily. This tells you the warning system for the oil injection system is functional and the warning horn is operational. If warning horn does not sound or horn stays on when key is turned to the ON position, refer to oil injection trouble shooting chart following to correct the problem.
The oil injection warning sound is an intermittent BEEP BEEP BEEP, etc. The overheat warning sound is a continuous BEEP (not intermittent)."
I'd check the user manual. From Merc site:
"What do the warning horns indicate?
The warning horns vary model to model. Generally a solid tone indicates a problem that can cause immediate engine damage and the engine should be stopped. An intermittent tone indicates a problem that will not cause immediate damage but the operator should inspect the engine as soon as possible*. Refer to your Operation, Maintenance and Warranty Manual for detailed information concerning the warning systems for your engine. Use the Bookshelf link on the
Mercury Dockstore page if you need to place an order for a service manual.
*On 135 HP (2 litre) through 200 hp (2.5 litre) V-6 models, an intermittent warning horn may indicate a problem with the oil injection system, engine should be stopped and inspected as outlined in your Operation, Maintenance and Warranty Manual."