Here's the issue - The treads on one of the value stems were cracked and I could not get air into the tire. As a result, the dashboard light would not go off. I've never put air in the tires. The truck had been back to the dealer for the 5k, 10k and 15k services. I brought the truck to dealer to look at and get a quote. They quoted $278 --- OUCH! The truck only has 19,000 miles on it. They told me that it was not covered under warranty.
I said I would think about it and left. At that point I started doing my homework, on this website, and through friends.
I ultimately called Toyota of America's Warranty Division (obtained telephone number from Warranty book in glovebox).
I pleaded my case, they looked into it, they then referred it back to the dealer.
IN CONCLUSION - On Monday, the dealer fixed the tire pressure sensor UNDER WARRANTY! The Service Manager said that was the second case in a week. Obviously Toyota has a problem with the sensors.
I'm Happy Now!

So what was broken? The sensor? I'm confused. I'm glad to hear it was covered for you, though!

Apparently the valve stems (part of the sensor) was cracked.

Toyota corporate seems to be doing a pretty good job keeping most people happy. Dealers get paid either way so I don't see why they don't warranty items more often. Glad they fixed it and thanks for letting us know.

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2007 SR5 Crewmax 5.7L 4x4
Mods: nerf bars, Truxedo tonneau, radar detector power, fog lights, black billet grille, rear differential breather, parking sensors, Line-X, power tailgate lock, hood safety latch mod, one off driving lights behind grille, Pioneer NAV w/ OEM camera, Flowmaster 50 SUV dual/dual, blue LED dash lights, Volant CAI
All mod descriptions and pictures © 2007,2008 by Toxarch. They may be copied only for personal use and the mods may be done for non-profit only.

Ah, I didn't understand that the sensor was in the valve stem.

I was checking on a site were I usually buy toyota parts and the valve stem is $76.61, Why they are charging you $278?

It's not in the valve stem. At the bottom of the valve stem is the TPMS. It looks like a business card case with a tire valve stem sticking out the side. They sell the whole thing as one piece.

Doing a little research over the internet I found several tools that will program the ECU with the new sensor, the tools are not that really expensive, so there is probably tire shops around that can do this cheaper than the Toyota Dealers. Go to ebay and you will find a few tools.

Are you sure they will program the Toyota ECU? You need a Toyota Techstream computer to program the Toyota ECU options. It's different than the programmer for Fords, Chevys, etc.

Thats what Bartec says in their web page

kinda sounds like my problem. bought an 07 tundra had 5300 miles on it and the guy had put 20`s on it. tire pressure light would not reset. went to toyota place they said the sensor in right rear was broke and it would cost $240 to fix. had to pay $18 to break down tire and remount because it was not under warrenty. i just dont see it being worth $240 to know a tire is 2lbs low. even if i bought my own sensor, wrote down the numbers and installed it my self, would still cost $50 to program truck.