"Why do you need a red key" is the question! You only need it to program new keys. If you already have a black key that works, get it cloned.
Yes, don't lose the other keys. A good locksmith might be able read the chip in the black key and make a copy. But obviously doing it sooner rather than later, and try a few places. For some it's just too much bother believe it or not.
Having no red key is not an issue. As Antonye says, you can clone your black key (I have the kit to do this) or even remove the immo requirement off your ECU. There are companies out there offering a retrieval service, but it is expensive and you need to send them your clocks,keys and ECU (Motomatrix| The Solution For Lost Motocycle Coded Keys| ECU Repairs)
Do you know if these guys have been successful Chris? I often hear good things about Scorpio Electronics but I'm wary of anyone that can claim to do something without knowing of someone who has actually had it done... you hear far too many horror stories!!
My only dealings with them were supplying an off-bike ECU connector to them. Can only go from the testimonials. Mark at Scorpio has a good reputation and if they can genuinely virginise a set of clocks, then by virginsing the ECU (IAW5AM) as well you would be able to use any red key to code the clocks and ECU. All you would have to do is then clone the red key. As previously explained in this http://ducatiforum.co.uk/f41/solution-may-help-others-14019/
