yep, these guys are right. i wouldn't rma the board just yet, though i know i said earlier it might be the board. have you checked the JUMPER connections on this motherboard and verified they're open/closed accordingly? you may want to skim through the manual real quick and check some of those things out. http://www.cizgi.com.tr/resource/vfiles/cizgi/pms_file/36/rampageiigene_en.pdf
also i saw via a google search that if you don't have the cpu fan plugged into the cpu fan header beside the 8pin atx connection it could cause the light to be red. i would read through and DOUBLE TRIPLE CHECK the jumpers on that board. i've never owned an asus board before so i can't say for sure what to check specifically but it seems to me that something like a jumper being wrong could cause this.
Take a good clear top down picture of the board as you have it now as well? Can you do that?