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hum....this is showing 20 minutes after the new motor has been put in....just put in 7 quarts, so I know its not low
Hmmmm .... bad sensor or bad wiring ... the sensor is $22.42 at GM list ... and you most likely know a forum vendor that will sell it cheaper.
Only other possibility ..... in a cold engine it takes a while for the oil to drain down into the pan ... is the dipstick showing the correct level ???
If you have a good Oil PSI reading, then it could be wiring. I think the circut is always powered, and if the oil level gets low it breaks the circut and you get the low oil level indication. So, a break in the wiring will get you the message.
Pretty easy to mis-route the wire and burn it or damage it. Its pretty cramped down there...
Other than that, I'm sure it goes without saying but, double check the oil, if its a new engine there are all sorts of ways to loose oil. And make sure you have good oil psi reading before running it long.