I purchased and installed a new Standard Ignition APPS (Accelerator Pedal Position Sensor) part no. APS261 from Oreilly's Auto Parts.

I initially tried some of the procedures found on the internet about recalibrating the APPS by turning the ignition 'ON' and slowly and fully depression and releasing the throttle pedal of which this did not cure the above problem.

I then used my AUTEL MP808 Scanner and performed an ETC (Electronic Throttle Control) Relearn.  After following the on-screen prompts of Throttle Pedal full depression and release, this corrected the problem and the dreaded 'Red Lightening Bolt' and 'CEL' light disappeared.  After the Relearn was completed I started the engine and had complete and full throttle response and the engine speeds were responsive and smooth.

Hope this helps anyone experiencing the same problems I had.