Any Mitsubishi L200 Mechanics out there?

I just purchased a used 2004 Mitsubishi L200 V6 3.0 and am having some concerns about the truck's 4WD. I can easily engange the 4WD on the fly but have a harder time going back to 2WD - it takes some time and over revving of the engine. Also, when the 4WD is enganged, the green 4WD indicater light glows a steady green. However, when engaged in 2WD, the indicater flashes on and off. Strange. It does feel like the truck has disengaged the front wheels and is only using the back, so I am hoping for an electrical error? Please, any help from a wrench or two would be most welcome.