A respected member with hint of red and another colour (5)
I believe the answer is:
amber
'colour' is the definition.
(amber is a kind of colour)
'a respected member with hint of red' is the wordplay.
'respected member' becomes 'mbe' (Member of the Order of the British Empire. I am not sure about the 'respected' bit.).
'with' is a charade indicator (letters next to each other).
'hint of' suggests taking the first letters (the smallest possible amount of the word).
The first letter of 'red' is 'r'.
'a'+'mbe'+'r'='AMBER'
'and another' acts as a link.
Can you help me to learn more?
(Other definitions for amber that I've seen before include "Road warning" , "Dark yellow" , "Yellow, translucent fossil resin" , "Orange traffic light" , "Honey-yellow colour" .)