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The yellow triangle with an exclamation mark will typically be accompanied by a message explaining what's gone wrong. Hopefully it will be self-explanatory - such as a low reservoir for the windscreen washer system.
I recently purchased a 2005 Z4 (76,000 miles), and I just experienced the same thing (beep, then yellow Brake and Triangle Light (w/exclamation point/semicircle appears on dashboard). It is intermittent. Did you ever find a solution?
The "leaning triangle" light is the light signifying there is a fault with the traction system (STC) a quick scan with a scan tool will tell you exactly what the fault is. The only other triangle light on these cars is the triangle with the circle and the exclamation point. Which is either Orange or Red depending on the severity of the issue. And what you described sounds like the STC light to me.
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