That Red key is a major issue. Hopefully you'd never need it. But if the immobilizer was triggered after you got the bike, youneed that key to disable it.
I don't think that's true - I'm 99% certain you only need the red key if you're replacing either the instrument cluster of the ecu, or for programming new black keys without a key cloning machine.
Just triggering the immobiliser doesn't require the red key.
That said, yeah, it _is_ a major issue not having the red key. I'd be walking away if I couldn't negotiate the price down by $500 or so from a comparable bike that came with the red key...
big