Mine blink Green, not sure whats up with red blink, specially if its hashing fine. With a EVGA G2 1300 you can run both at full speed of 393hz~ for 1.3TH/s. It'd draw about 1300W.
Mine blink red, green, amber. I think green is the network, amber on the blades and red on the BBB. Might be different for different batches.