Likewise, people ask, what did Magnus do wrong?
Magnus did nothing wrong. Rather, as many will note, he was unfairly persecuted for his psychic gifts by both society and his family. Magnus was born, not on the world he regarded as his home, but a laboratory, constructed to be a truly magnificent redhead, going so far as to have gloriously copper skin as well.
Also, why was Magnus red? He wasn't truly red, he has coppery skin from the sun of Prospero (the latent psychic energy glowing from within doesn't hurt either) and a wicked red haircut. That's where he gets his name from, his beautiful red hair. However, like the Emperor, Magnus' appearance changes depending on who looks at him.
Furthermore, can Magnus be redeemed?
Magnus is not redeemable, he is a Daemon Prince of Tzeentch. That's just too far gone for any redemption. In the 40k universe once you go down the path of chaos to a certain extent you never come back.
How tall is Magnus the red?
-Magnus the Red: height varies due to sheer psychic power of biology. In general 9-10ft when trying to be unintimidating. 18-20ft normally. Both he and Russ literally grew to Warlord Titan size when they got serious in thier fight.