Normally (for example) the meter might reach -12 and as it falls away it leaves a peak marker at -12.
Hold Peaks, as I understand it, should briefly hold the peak before it falls or disappears.
Lock Peaks should continue to display the peak at all times.
But on both those options, the meter might be at -12 and the peak is well into the red all the time.
That's the part I don't understand, where is the real peak? Why is the peak indicator in the red when the meter never goes there?