Conditions for Setting the DTC
WARNING: This page is about a different car, the 2008 GMC Sierra, 2008 GMC Cab & Chassis Sierra, 2008 Chevrolet Silverado, and 2008 Chevrolet Cab & Chassis Silverado. However, it is still accessible from the selected car via links, so may be relevant.
DTC P0761 sets when SS3 is commanded ON and PS3 status remains OFF for 5 seconds, depending on fluid temperature.