Red light is a FAULT
On propane it typically means the Flame lit but failed to prove it....3 attempts then circuit board 'locks out' and throws Fault Light.
Main Flame when it lights off must prove it by the return signal generated (flame ionization/rectification)
This milliamp signal goes back to circuit board via the spark electrode assembly
No return signal......DC to gas valve is dropped.
Spark electrode needs to be 'engulfed' in main flame when it lights
Spark electrode wire connections must be clean/tight for milliamp signal
Now if you have a combo unit (gas/electric) and where using electric..FAULT Light comes on when millivolt signal on ECO/Gas Valve circuit is dropped due to bad connections on circuit board, ECO or gas valve (RED wires)
Millivolt signal is used so ECO is part of control loop