Ok follow my instructions carefully, first at the base name it to this exactly......base mesh. now under the base textures select the takin_led.png and click on edit. make sure that it's set as this....under blend operation set as MultiplyAdd. Under Arg2 set it as specular. Now go to the light name as name as....light mesh. Now in the second box under takin_led.png add the vehicle_generic_smallspecmap texture and configure it the same way you did the other texture and you're done......easy peasy
Side note, make sure you put a space between the words when you rename them or the game will not recognize them.