Here is a link to the manual:http://www.peavey.com/assets/literature/manuals/00512180.pdf Page8 sections 2 through 4 discusses the LEDs. I think what you arte talking about is the DDT active LEDs. Page 12 specifically discusses this and page 15 notes that Red signifies DDT clipping. Peavey recommends that you don't defeat the DDT circuit and that is good advice as it protects your amp and your speakers. The clipping is not caused by the amp but by the amount and quality of signal being input. Check earlier in your signal chain for the cause.
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