If it's red, it's just a stuck pixel. lightly tapping on it with a pencil eraser may fix it, or it may just fix itself over time.
Also, you can try gently massaging the area with a hot and very damp washcloth. Obviously be careful with water around a smartphone, but you should be okay, I get my HD7 wet all time and havent had a problem and its build quality is arguably lower.
When I got my HD7 I got a phone with multiple dead pixels, so I brought it back to T-Mobile. We (the manager, salesperson, and myself) opened 4 phones, all of which has noticible screen defects. The 5th phone, my current device had no defects and is perfect to date!
Pretty crazy and one of the reasons I will try to stay with T-Mobile until the bitter end, great customer service!