the red basically does mean nothing.

the game hightligh the mods like this when there was a crash and this mod was active at the time and the game suspect it can be the reason for this, but in most cases it is just false positive coloring.

as for the mods conflicts, if the mods alter the similar part for the code, it could happen.
not necessarily your case tho, but good to know this.

usually good practice to not install mods which do the same, this way you could avoid this, as authors do not track each other and the code, so it is impossible to make all mods compatible with each other due how many variants of alter the code could be and some could cause potential issues for any changes made from outside.