According to the manual the red indicator light only lights up in conjunction with another form of 'fault' light, this could include low oil pressure, in which case the 'oil can' symbol will also light, or in conjunction with a fuel injection fault when the 'FI' should light where the clock would normally show. There are two FI fault modes, the first when it shows the 'FI' warning alternating with the clock and the red indicator light stays lit, in which case the engine should still run. The second mode is when the 'FI' remains lit and the red indicator light blinks, in which case the engine will probably not run. If the FI is lit then the manual says you need it checking at a dealer. The only other time the red indicators seems to light is if the engine coolant temperature is too high.
Hope this helps.