Yes, it's just a flag, which typically doesn't go away, to say there is a change of some sort. I've got about a quarter of my flights in red at the moment, mostly due to very minor changes in timings, a wadge were plumbed in for summer flights a few days ago. I've got a few equipment changes too.. A red line through the red text indicates a cancellation. After a few days it may auto rebook, if not then you need to call.