Did you play around with the jumpers?
Look at this thread of mine for a link for the jumpers:
http://www.amiga.org/forums/showthread.php?t=26658(Any gurus reading this, please see if you can answer my questions or give hints in that previous thread. It'd be appreciated!)
I believe mine gave a black screen when using it with KS 3.1, not red. As for red, it means this:
-Red
ROM error, reseat or replace Kickstart ROMS (this can also be caused by worn insulation covering the back end of the pins that connect an IDE cable to a hard drive, aka short).
Taken from:
http://www.amiga.org/modules/xoopsfaq/index.php?cat_id=3Play with the jumpers and lets u know if it works. Good luck!
