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My car is throwing CEL P0141 O2 Sensor Heater Circuit Malfunction (Bank 1, Sensor 2). Is there any connection between my car's coolant going to the reserve occasionally and over flowing causing me to loose coolant? coz of that check engine light ?

 
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The O2 sensor code refers to downstream (after cat) O2 sensor which means you need to replace it, the coolant loss IIRC is related to a bad radiator cap. I don't believe they are related but could be wrong.

 
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I really doubt its related. You need a new O2 sensor. It is the second one after Cat that you need to replace. Although you may want to just do both because they can go bad over time.

 
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Confirmed fix update?