It comes and goes: when little grits get in the switch contacts, they can hold the switch open until they wash out. Oil grits are harder when cold than hot, so it can take a while to get them "crunched down" and the switch reliable again. They are hard to manually clean out!
You might want to avoid the 10w40 oils in a 750. It has always been spec'd to use 20w50 in warm weather, 10w50 in cool, and 10w40 in cold winter riding. I have marginal hot engine performance even with 15w50 in the summer: the shifting is much better and the engine far cooler with the real deal 20w50. Use only "motorcycle" oils, too, to avoid oil frothing in the sump, from contact with the spinning gears. Motorcycle oils have less detergent, so froth much less.