Midi Meter

The red simply shows that the channel is receiving/sending MIDI - e.g. if you move the mod wheel on a controller the channel meter shows red. The bar part of the meter indicates velocities.

In other words, don't worry about it - it's got nothing to do with anything like audio clipping. In any case, MIDI can't clip in the way audio does. So long as the audio track is OK, then no problem. If that clips play with its gain/volume, both the track's and the synths own controls. Handling audio clipping by reducing velocities does work, but it also reduces the dynamic range of the synth which is generally not what you are after. For example, velocity often controls more than a synth's volume - e.g. tone or filter levels may be programmed to change as velocity increases so reducing all velocities may also alter the sound of the synth.

Yeah. I guess it's a visual design thing that they put a meter to show the midi activity on the midi-tracks..
Just a little blinking lamp would have been sufficient, since what it's really all about is ON/OFF - Midi activity/No Midi activity. 

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Hm.. Correction:
I see now that the meter actually shows different levels. A nice detail I hadn't noticed before :)
However.. I'm guessing it shows the amount of MIDI being sent rather than how hard (or, to be completely accurate, how fast) you hit a note. :)

edit - accidental duplicate message.