Embarrrassed about poetry — or vice versa (8)
I believe the answer is:
reversed
'vice versa' is the definition.
(thesaurus)
'embarrrassed about poetry' is the wordplay.
'embarrrassed' becomes 'red' (I can't justify this - if you can you should give a lot more credence to this answer).
'about' is an insertion indicator.
'poetry' becomes 'verse' (synonyms).
'red' enclosing 'verse' is 'REVERSED'.
'or' acts as a link.
Can you help me to learn more?
(Other definitions for reversed that I've seen before include "withdrawn" , "Put back to front" , "Put backwards" , "what the answer to the final clue [Send up and down (5)] might be" , "Drove car backwards" .)