Assuming your are talking about with the engine running, if KEY flashes and beeps in red, it means the system is having trouble or is not communicating with your card. If it flashes KEY in green, it means the batteries are low. Possible causes for red: bad battery contact on your card, a failed sensor/module in the area where your card is at when the KEY light is flashing, or just a bad card. Also, if you exit the vehicle with the card on your person, and the vehicle is still running, it WILL freak out.