rule will be red because it is currently not the time, that you specified. red means that this rule is currently not working. when the time will be as you specified, rule will start working, and will not be red.
Ha ha! That is certainly unexpected! I am used to the red meaning that something is wrong. Well, that also explains why I have never seen that rule red before today. I’m happy to learn that I don’t have a problem. Thanks for the explanation!
No, the opposite. Traffic will be dropped only between 02:00 and 23:59:59. Between midnight and 2 AM, traffic will be allowed (and the rule will show up red in Winbox).