Yes some of our APs does have multicolor LEDs = it is possible to have green and red light on the AP.
if there is a problem with the AP then:
What type of AP?
What LED is blinking what color? All LEDs are blinking green/red? Each LED does have some meaning.
Have you tried to find answer in the documentation?
Anything on the serial console?
Did you tried the factory reset?
What is the log on the controller if it is controller based AP?
I would like to help, but without more information it is not very difficult to write here all possible combinations.
Regards
Zdeněk Pala