AH! I never noticed it in Sonar 8.5 because there the color was a cool, non-threatening blue. It never registered in my brain as something to notice, but here in X1 it looks like clipping because of the color choice. Red means clipping in the recording world, as Pathos points out.
And this is ironic, because I started the B&M thread (****in' and moanin') about the drab lack of color in X1, and now here's this surprising vivid RED in the program where it really shouldn't be.
RB