How do I make a status light turn red? I'm able to make it turn green by hooking it up to a power switch. My assumption is that by sending the signal through a NOT logic gate first that the status light would turn red, but instead it just turns off.
Right now, not possible, it's the bug 0008882: No red lights for status lights
According to here and the wiki the status light will only light up green; it is impossible to make it go red. This will probably be changed in the next build, which is why the description says it can be both green and red. This is further supported by this source and also this one. All of these sources mention that there is a status light, but none mention that it can be red. Considering that the last source is an official Introversion update, you are unable to make the status light go red.
The status light can only go green and unlit, this is stated in detail on the Devwiki in this post here: