Red is minimal stats, in battle you`ll have 168 hp. If you played red sands mod there units have individual exp and when gaining lvls can get bonus HP among other stats. There also outside of combat basic HP is red, and next to it is blue basic+bonus HP.
In case of this item blue is permanent value of stats, and red current just like you have buff/debuff spell green/red is temporary value of some stats (when you cast haste speed is green basic+bonus from spell value . . . ). So no need to worry in combat bonus HP will work no problems.
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