There’s a total of 3 LED on mine, I’m probably seeing an extra one cause I don’t have an enclosure on it. I checked the manual and the only one that’s on is the “standby” LED that’s supposed to show that there’s power going through the board.
The disk usage and normal “power on/off” LED are off. And I haven’t managed to get them to do anything so far.
Our association between Christmas and those colors comes in part from:
Basically, those colors have always been associated with this time of year and festivities of similar nature ever since ancient civilizations. And in modern times, thanks to the fizzy drink marketing campaign and the influence of the US on the rest of the world, the red and green image of Santa Claus and other decorations they became the default colors for Christmas worldwide.
Here’s an article about it. The Wikipedia page also has more info and sources on symbols of the holiday :)