Yes, that is my point.
If the light is on, fire the bottle. If it's not, don't! (And don't worry about why it isn't either, not until the cold beer is on its way down).
Whilst this checklist is the only one we've got, we have to use it correctly!
Of course, if you were in doubt about a fire of some sort being present, you could elect to fire the bottle anyway - but if the engine is gone, where will the extinguishant go? (Smug :-))