Hi Ken, congratulations on your purchase! On an MXL2 dash the alarms are user configurable, and from the factory they are programmed to turn the display red when certain parameters are not met. From factory the alarm will have activated when the engine oil temperature was not above 45 degrees Celsius yet, causing the display to turn red when the RPMs were raised above 4K. In the middle of the display, it might have said “Engine Cold”. When you were looking at the temperature during run up, pay attention to the oil temperature (EOT) as well as the coolant temperature (ECT). The coolant temperature will be regulated with the fan (if equipped, it will turn on at 92 degrees Celsius), but the oil temperature needs to be in the 50’s before we can raise the RPMs above idle. It might be a good idea to download the configuration from your dash using Race Studio 3 and look through the alarms. As stated before, they are end-user configurable, and might have been changed from the factory configuration. Below is the how the alarm for your dash would have been originally configured.
Good luck, and always feel free to reach out if you have any more questions!