Have you ever thought, What do all these icons in Vault mean, Red, Blue, Green, crosses, yellow icons,
Here is a quick guide to hopefully shed some light on the situation.
Icons and the font colour used for the file name indicate the status of files in the vault. The icons indicate whether you have a local copy, if your copy is up-to-date, if you have a current version, and so on. The font colour will indicate if the file is not checked out, is checked out to you, or is checked out to another user.
Vault Basic Symbols
Vault Workgroup and Professional Fonts
Vault Workgroup and Professional Status Icons