Error code 4 problem

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Hi im having a problem when i do a self dianostics test on my sporty it gives me error code 4 i know its something to do with the water temp sensor but im not sure how to fix it.I have tryed reseting it by removing the - neg battery connection.

I also have a problem when i rev the engine i can here what sounds water gushing (running) are these problems related and how do i fix them. could any one help please email me on eval(unescape('%64%6f%63%75%6d%65%6e%74%2e%77%72%69%74%65%28%27%3c%61%20%68%72%65%66%3d%22%6d%61%69%6c%74%6f%3a%72%69%63%68%40%64%65%73%69%67%6e%69%6e%67%69%74%2e%63%6f%2e%75%6b%22%3e%72%69%63%68%40%64%65%73%69%67%6e%69%6e%67%69%74%2e%63%6f%2e%75%6b%3c%2f%61%3e%27%29%3b'))

.ps are they a serious problem or are they nothing to realy worry about.

many thanks
Rich