Red is such an overpowering type color, one of the hardest for the eye to actually read in text form. That's why it's use is generally limited to one or two words, or headlines, that warrant special attention.
On people's computer screens, where you have no control over how the colors are calibrated, it's especially important to be careful.
I suggest limiting the use of other colors, apart from black/gray, that you put in combination with red.
It's pretty easy to overlook the private messages link (that's why LXF has a big color block that appears when you get a message). An easy solution would be to simply have the PM link in black, and the PM/Unread #, in bold when a message come in. Won't miss that!
It would then look like this:
Private Messages: Unread 0, Total 34.
Private Messages: Unread 2, Total 34.
or even just the message/number if space is an issue:
Private Messages: Unread 0, Total 34.
Private Messages: Unread 2, Total 34. Or....
Private Messages: Unread 0, Total 34.
Private Messages: Unread 2, Total 34.