Jim,
With conventional automotive alternators, something like a 3 watt load is necessary for that light to work. I don't know about the Rotax specifically, but an LED should be able to be used, as Larry said. Here is one drawing that I had, and I've attached a .pdf file with another. I hope one or the other will help you. Anyway, you may be able to use this information to fabricate a simple circuit for use with the Rotax. Here you go -
LR3_LV_Led_1.jpg
I like your panel. Looks like you're using my favorite simple TruTrak autopilot. I've got one just like it. I wish they still made them.