Hey, Mhaise, I'm fairly confident it's the tstat and upon replacement, the check engine light should go away on its own. It will just be logged in the ECU that it was, at some point, lit for tstat issues. As far as I know, the LR3 never really "needs" an update, but updates are available. I went ahead and updated the engine and tranny software at my last service (and extra $145 dollars!!!) to cure some "california stop" tranny shifting issues. Although the issues receded a little bit, they are still apparent in some driving situations. Was it worth the cost to update it out of warranty, probably not.
ps: I noticed you're in houston too, where do you service your LR3? Do you of any good indie shops?