I have the same 8.1L engine and occasionally it will go in to limp mode or a check engine light will come on. I have a ScanGauge hooked up continuously and monitor several different parameters while I drive. I always clear the codes and usually disconnect the chassis battery with the disconnect switch to reset the ECM. In every case, this has corrected the problem and it may not show up again for several months or several thousand miles.
I have had the O2 sensor code show up and it went away with a reset. I am still on my original O2 sensors and I am now approaching 90,000 miles.
I basically chalk up an occasional check engine light or limp mode as being something temporary that probably tricked a sensor in to thinking there was a real problem. If there was a real problem, a reset would not work and it would quickly show the same code.
Naturally you can replace the O2 sensors if it gives you peace of mind but that does not mean that another temporary problem may show up next time out.