It is my guess (and therefore not a certainty, until I check the circuit diagrams for each plane) that the systems are basically the same in both aircraft - other than the annunciation itself. The old "overvoltage" light was probably not entirely accurately named. It is more a light which tells you that the overvoltage sensor has taken your alternator off line to protect your avionics from over voltage. In accordance with the Flight Manual procedures, you might recycle everything to see if it comes back. I think that the newer Cessnas annunciate this a little differently, but really the affect is the same.
Consider it form that perspective, and see if it makes more sense....