What dot he lights mean on a CX2?

[Dragon]

I've had my CX2 for a couple of weeks. I'm getting good and hovering tail-in, so I've been practicing side in... When I'm flying left side in, I can see the lights on the receiver, and noticed that once in a while, whien I'm hard on the throttle, the light goes from green to red. When it's red does that mean 100% power?

I come from a road-racing background, and on some ESCs, the Novak Spy for example, the LED blinks when at part throttle and then goes solid when at full throttle.