Maintenance for the week of March 31:
• PC/Mac: NA and EU megaservers for maintenance – March 31, 4:00AM EDT (8:00 UTC) - 8:00AM EDT (12:00 UTC)
• Xbox: NA and EU megaservers for patch maintenance – April 2, 6:00AM EDT (10:00 UTC) - 12:00PM EDT (16:00 UTC)
• Playstation®: NA and EU megaservers for patch maintenance – April 2, 6:00AM EDT (10:00 UTC) - 12:00PM EDT (16:00 UTC)
Relentless focus (NB skill) and Weapon damage enchantments would be other possibilities for red glowing weapons.
If it's more like orange, it could also be molten weapons (dk skill).
Sometimes spamming certain spells causes overlapping glows, there's something on Templars that makes their weapon glow golden, on certain staves it can be this incredibly bright light bulb following you around, as if you left it in the coals too long.