I would like to point out that in the most common rules of iconography (these rules are traditional and common, but it doesn’t seem to be strictly followed by many painters) red represents divinity, Jesus Christ is often represented as having a red garment (next to the skin, and a blue or other dark colored cloak. This would indicate (in a symbolic way) that God has put on manhood.
The Holy Theotokos would be different, since she is not by nature divine. The inner garment would be blue or some other dark color and the cloak would be red. This signifies that she has ‘put on Christ’ so to say. It is a way of expressing Theosis. She is by nature a creature, not divine, and she imitates Christ.
Our one hope is that we could all put on ‘red cloaks’ one day …