When you put on your track wheels and you have low enough cold pressures to set it off, just reset the TPMS and you are good to go till you put your street setup back on. Takes about 10 seconds and no annoying warnings.
I forget the exact threshold but I run stock at about 34-36, cold pressure for track starting at ~30. No warning for me (I think it will trigger around 28-29 in my case, roughly 7 psi or ~20%.)
08 E90 | Jet Black / Black | 6MT
Mods: RAC RG63 w/ Pirelli Corsa 255F/285R | Akrapovic Evo Exhaust | OEM Blacklines
Winter Setup: OEM 18s w/ Nokian Hakkapeliita R 245/40-18