My cat has a recurrent runny eye that looks like it is tinged red too.  The
vet has assured me that it is not blood.  I cannot remember exactly what she
told me as to why it looks like blood, but she said it was not blood.
According to my vet, my cat's runny eye is probably due to a blocked tear
duct.  Nothing serious.  We may correct it next time my cat has to be
anesthetized for something (like a dental).  You wouldn't want to
anesthetize the cat just to correct the tear duct.  Runny eye could be due
to allergies too.  You'll probably want to have your cat checked by your vet
to find out the cause.

Sue

Could be a virus, Dennis.  It's my understanding that a discharge
from a cats eye starts out clear, but once oxygen hits it, it turns
red, then reddish-brown and eventually the discharge will get darker
and darker the longer it's on his eye (i.e. if your cat won't wash
his eye/face).

So... oxygen is the cause.... but the cure is at the vet's office.
Get your boy in for his shots and a checkup.  He probably needs an
antibiotic.

Linda