Error 54, Does error 54 on the st205 slows the car down? Options

[Rav4Race]

Hi guys/gals... I own a Rav4 model year 2000 and ive swapped in a 3sgte st205. The engine seem to be perfect but however my check engine light is on... I bridged E1-TE1 and ive detected an error code 54. Ive read in a message posted by insanity on 6gc.net, where he proposed to bridge the coolant level sensor, which i did! But the problem is still persisting, my water pump is working.
Well guys i need help, i dunno if my car's boost has lowered because of the 54 error code? Or is it that i havent changed my fuel pump which is holding my car back? But Rav4 use a 2L fuel pump, n i doubt that this is the problem. Plz advise me:(
Another question, after bridging the sensor, should i take out a fuse or something just to delete the problem from ecu memory?
thnx for all;)

[Rav4Race]

Thnx brothers... In fact i fitted the 3sgte engine together with its ECU gear box etc...complete set...Am praying that i get my car to its top 100% fit as soon as possible:(
When i remove the water cooler cap i can see movements of water when the engine is on, which should mean that the water pump is working right? I bridged the sensor, disconnected battry cable n still engine light on:(