Hi Swamy,
This should not show your the LED's as red they should be green. If you are able to access the switch and it shows the sup are fine, then you are Ok with the switch. You might be hitting some cosmestic issue on the cat6K that's why it is showing it as red. You can alsways open a TAC request and have the TAc engineer look into this issues.
Also, for the standby sup issue, Please let us know which OS you are running is it Cat OS or IOS. For cat OS you can use " Show STACK " command for the crash info file.For IOS" show slavebootflash: all" and check for crashinfo file. Please use this file and open a TAC case to solve any uknown problems asscociated with the sup.
HTH, Please rate if it does.
-amit singh