Bob, your out a little there.
A red NAME in the asset list means the asset (or one or more of it's dependencies) is faulty. A white NAME means that the asset and it's dependencies are not faulty.
When -showkuids is in the trainzoptions.txt, the following also applies.
A red KUID denotes an item that is not on the DLS (or at least isn't in the TAD as being on the DLS).
A white kuid denotes a locally installed item that is on the DLS.
A yellow kuid denotes a built-in item.
Please note, these are from a quick test I did in 09 using my own assets as a basis. Namely, I tested some built-in items, some faulty items, and some items available on the DLS. This was confirmed by checking other items that I know also fit these categories.
Zec