Don't know if this applies to your situation, but I recently had a similar problem with my Panasonic AX100U Front Projector (showing all red).
I've got a new Oppo 981 DVD Player connected via HDMI and the problem in my case was due to an HDMI handshake problem. I was able to resolve the issue simply by powering off/on my Oppo. However, Oppo has a firmware upgrade that resolves the problem (1227B).
I also learned that, at least with my setup, it's important for the Display to be up and running before turning on the source device in order to avoid other types of HDMI handshake issues.