CE Code 34, Need Help

My buddy's 96 XJ flashed the following code 34:

I looked it up and I got:
34 - An open or shorted condition detected in the Speed Control vacuum or vent solenoid circuits. Speed control switch input below the minimum acceptable voltage.

Can anyone translate?

The speed control swith is the switch on the steering wheel to control the cruise. Probably a vacumn line leak though is my guess, based on the message. If you go to check the switch make sure to disconnect the battery to let the air bag capacitor discharge for at least 2 minutes.

So is this something that can be ignored or it is critical to take care of it?