I feel like this is a massive improvement over the old version and a step in the right direction. Any issues report them here: http://racingrivalsforum.ciegames.com/forum/check-engine-light/help/896638-2-0-reports, so the devs can continue to improve the game.
Actually, it may not be photoshopped. Sometimes the actual light graphics appear higher up from the cars headlights than they should. I have encountered this myself.
I am actually working with Ryyst to come up with a resolution or a fix. I gave him the details on my race that ended with a tie. He's going to look into it with the Devs.
There are plenty who will pink their Rotana. You just have to be in a worthy car (Nismo or Rami,) or a car that they think they will sure fire beat (...RX7 lol.)