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LEDs are made of different materials and formed in different ways. The material, the process and the structure of the LED will determine the wavelength of the light emitted. The wavelength for infrared is greater than 760 nanometers. If your LED is properly constructed and working correctly it will only emit the color it was designed for.
So, the answer to your question is no, your infrared LED will not emit red light. Red light has a wavelength of more that 610 nanometers and less than 760 nanometers.
You will find much more detailed information about LEDs on wikipedia here.