Yeah, time to violate that whole "Don't post in old threads" thingy....
I would like to 'think' this has already documented, but if not, here's your 'hack' for getting around crashes in "Homesick" due to red-alert issues with SCP 3.6.9 (and probably earlier builds).
Yes, replacing the Red Alert: 1 with Red Alert: 0 flags will do the trick but you have to do it a specific way or the VP will be rendered unreadable. If you do it incorrectly, what will happen is you'll go to launch with the launcher, get an hourglass, and then...nothing.
So.
1. You absolutely want a hex editor for this. I'm partial to WinVI32, myself. Google it.
2. Open the "Homesick.vp" file with the program. Switch to Hex mode.
3. Go to "Search" and search for the following hex string: 52 65 64 20 41 6c 65 72 74 3a 20 31
4. Replace all instances with 52 65 64 20 41 6c 65 72 74 3a 20 30
5. Save your changes.
6. Launch away!
No more red alerts, which degrades the game experience a bit IMHO. Instead of red alerts you'll drop to an actual briefing.
At least you can continue.
Alternately, you can install the full retail version of Fs2 and play it totally vanilla.
If this solution has already been thoroughly documented elsewhere, my apologies.