"red represents fire and deep passion. Red causes your breath to catch and also increases the heart rate. When someone wears red you know they are tough and relentless - they are fighters. While that may be a desirable image to portray at times, wearing too much red might be perceived as provoking others and antagonistic. It might be more effective to wear only a bit of red, such as a red tie (also phrased a 'power tie'). Research has shown that red is considered an attractive color by men, so it might be a good choice for a first date." - FW Editor.
Lady in Red? Well some schools don't permit their graduating students to wear red as it is seen as a mature color. Red can really make you seem all grown up, especially true red.... so if you're going to wear a red dress, maybe you can vouch for a shade of red; scarlet, crimson, burgundy. But red is a classic color and if you can pull it off, then go for it =)
Btw if you're Indian, red DOES NOT make you look coolie! Once you have a nice color and a nice dress. So don't fear the red ppl because it's probably the best color for you, especially if you have warm undertones.
Accenting with red :-