Text (LG+errata): ~this~ is red. ; 0/1. [Oracle 1999/09/03]
This card is red in all zones. See Rule 604.3. [D'Angelo 2007/06/04]
The mana cost is not a mistake. [D'Angelo 1994/08/01]
The text on the card explaining the color can be affected with Sleight of Mind. [Duelist Magazine #18, Page 29] Changing this wording affects the base color of the card much like changing the mana symbols on a card would do. [D'Angelo 1996/12/04] It used to be explanatory text and was not Sleightable.
Extended tournaments (see Rule 913) have always banned this card.