It sounds like you re-imported all of your files by changing auto-import's target directory. Thus leaving behind all of your original files, pointing to the old file locations. The red circle is to show you files that don't exist on disc any more. Which makes sense, because you removed the old drive (or mapping maybe).
You can easily remove all of your old files in just a couple of steps, but if you do, you will lose all of the metadata you may have associated with them. Play count, skip count, star rating, etc. If you are ok with that, I can show you how to do it.
The other way is to tell JRiver to point all of the old entries to the new drive letter. It's done in a different way than the re-import that you've already done.
Here's the fast way to remove all of the old entries, losing any stars or other data that may be associated with the old files:
1. Go to a files view, or a Panes view that shows the files with the red circles and the new files.
2. In search box up at the upper right corner, type in the drive letter and maybe some of the path to the old files. For example, if the old files were in V:\Movies , type that in. That should isolate the view down to just the old files with the red circle next to them.
3. Select all files. You can do this by clicking one and then pressing control-A. Or click on and Edit > Select All .
4. Confirm that you only have red circle files selected.
5. Press delete. A dialog box will ask you what you want to do. Take the default of "only remove from Library".
6. Erase the search box and make sure you've gotten all of the red circle files deleted.
If you want to know how to re-point the files instead, it's a longer process, but it can be done.
Good luck!
Brian.