MD80 CREW ABORTED TKOF AFTER GETTING A TKOF WARNING HORN.

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WE OPERATED FLT ABC FROM ABQ TO ZZZ. AFTER COMPLETING ALL TAXI AND TKOF ITEMS AND THE APPROPRIATE CHKLIST WE WERE CLRED FOR TKOF ON THE W RWY IN ABQ. UPON ADVANCING THE PWR LEVERS THE FLAP WARNING ALARM CAME ON INSTANTLY. THE CAPT THEN BROUGHT THE PWR LEVERS BACK DOWN AND WE TAXIED OFF THE RWY ONTO A TXWY. THE ENGS NEVER SPOOLED UP AND THE ACFT NEVER WENT ABOVE TAXI SPD. THE MD80 HAS A 'DIAL A FLAP' CTL WHICH ALLOWS US TO USE MANY DIFFERENT FLAP SETTINGS. THIS PARTICULAR FLAP SETTING WAS GIVING US AN AURAL WARNING. WE THEN CALLED BACK TO OUR OPS AND HAD THEM SEND US; VIA ACARS PRINTER; A NEW SET OF TKOF PERFORMANCE FIGURES FOR A NEW FLAP SETTING. AFTER COMPLETING THIS AND RESETTING THE FLAPS; THERE WAS NO WARNING; SO WE TAXIED BACK TO THE RWY FOR TKOF. AFTER COMPLETING ALL APPROPRIATE CHKLISTS AGAIN; AND WITH NO FLAP TKOF WARNING; WE INITIATED A NORMAL TKOF AND PROCEEDED TO ZZZ WITHOUT INCIDENT. SUPPLEMENTAL INFO FROM ACN 437223: WE SET THE FLAPS TO 4 DEGS ON TAXI OUT USING THE AUTOMATED TKOF CHART DATA RECEIVED FROM OPS. ON INITIATING TKOF; THE 'FLAP' TKOF WARNING SOUNDED. I TAXIED OFF THE RWY AT TXWY A11; RAISED THE FLAPS TO THE UP POS; RESET THE TKOF SELECTOR TO 7 DEGS AND RESET THE FLAPS TO 7 DEGS. WE THEN CALLED RAMP CTL AND RECEIVED TKOF DATA FOR A FLAPS 7 DEG TKOF. I THEN CONFIRMED THAT THE FLAP TKOF WARNING WOULD NOT SOUND WITH FLAPS 7 DEGS; RECOMPLETED THE TAXI AND BEFORE TKOF CHKLISTS; AND MADE A NORMAL TKOF. IT DID NOT OCCUR TO ME THAT THERE WAS ANYTHING WRONG IN THESE PROCS; EITHER FROM A LEGAL OR SAFETY STANDPOINT; AND I AM STILL OF THAT BELIEF. HOWEVER; I HAVE BEEN INFORMED THAT THE FAA IS INVESTIGATING THE SIT SO I AM SUBMITTING THIS RPT.