The pinhole reset was never going to stop the red light. None of your settings would have caused the red light. It's a real shame that the technical people in VM don't provide a proper bible to the customer facing Forum Team.
To my mind, the red light is a safety issue as it's normally associated with overheating of the CPU (Intel ATOM chip). You'll see from the block diagram below (when the image is approved) that there is no environmental circuitry. The CPU (Intel Puma 6) controls the LEDs (not shown on the diagram) and thus the red LED. I'm not aware that the other chips have heat detection on the die but it's possible. This would be reported to the CPU and hence a red LED.
You could check the metal bit of the coax cable entering your Hub 3. If that's getting warm, then something is definitely overheating and you have a potential safety issue if you leave it on overnight. Bit scary - imo the overnight thing is important. VM really need to take the red LED seriously or properly and publicly explain why you can ignore it.
Hub 3 block diagram
Seph - ( DEFROCKED - My advice is at your risk)