Mine arrived yesterday, too! I'd say it's a light red, more red than pink.
I like it a lot -- it's more padded and the Kindle fits much more securely in it than in the Amazon standard cover. And I can bend the front cover around and stick the doohickey in the thingey, so YAY!
I love having a place to put a business card in case I accidentally leave it somewhere -- would even like it if they put a clear vinyl pocket in for that express purpose -- and a place to store the SD card when not in use.
I give it a big thumbs up!