Red indicates a problem. Could be simple like the trunk is open, or could be something else, even a broken wire somewhere. Broken wires between the trunklid and body, and also in the top above your head on the left side, could cause this.
If the light blinks orange then you need to flip down the expanding compartment inside the trunk.
My top gets a red blink about once a month or so that is unexplained. I get out, lock the car, unlock, get in, start engine and that usually cures it.