Try the following Worksheet_Change event code placed in the sheet module:-
Private Sub Worksheet_Change(ByVal Target As Range)
If Target.Count > 1 Then Exit Sub
If Target.Value = vbNullString Then Exit Sub
If Intersect(Target, Range("A:A")) Is Nothing Then Exit Sub
If Target.Value <> "" And Target.Font.ColorIndex = 3 Then
Target.Offset(, 1).Value = Target.Value
Target.Offset(, 1).Font.ColorIndex = 3
With the above code, if any cell in Column A is not empty and is formatted to red font, then the value in the adjacent cell in Column B will equal the value in the cell in Column A and in red font. Otherwise, nothing will happen.
To implement the code, right click on the sheet tab, select "view code" from the menu that appears and in the big white field that then appears, paste the above code.
I hope that this helps.
P.S. To execute the code:
Once you enter a value in any cell in Column A and then click away (or press enter or down arrow), the code will execute.