Interesting.
I'd always thought of it as just a manifestation of an innate remote-viewing ability possessed by Sauron; something along the lines of Morgoth's (with my eyes you shall see', as Morgoth said to Húrin).
Maybe the Eye had a red hue because Sauron's eyes in his Third Age 'terrible' shape were red, and Frodo and Sam could see it more clearly because of their close proximity to Barad-dûr.
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Music alone proves the existence of God.
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