The other day my "emissions maintenance" light came on in my 89 XJ. I am not sure, but I believe the Jeep is using more fuel than on average, but I can't really tell for sure as it doesn't get more than 10mpg average anyways.
The renix system seems to be a PITA to diagnose, as it's before OBD I believe. The Jeep seems to have the same amount of power when driving as before, but recently it has died a few times upon bringing it to a sudden stop without keeping some pressure on the accel pedal.
Can you remove & clean the O2 sensor or do you have to just replace it? I'd say mine has carbon build-up from running too rich. On a side note, I disconnected the battery last week and now the light hasn't been on since then & Jeep seems to be getting better mpg again?!?!
You "can" clean O2 sensors, but it's a complicated process and most people don't know how to do it correctly without damaging it. So it is most recomended to simply replace it.
The reason your light went off is you reset your ECU/DME, thus clearing the trouble code.