was that the only code?
I would think that a failing waterpump would throw additional codes.
It could just be your coolant level sensor or coolant temperature sensor.
I would def call the service manager- that is a lot of cash to drop and still have a code.
06 330i 6mt Spt- Eibach Springs, BMW Perf Susp, Supersprint Exhaust, BSW Audio
94 325i 5mt 4d- M3 springs/susp, Z3 wheels, Chipped, Intake, Exhaust= FUN!