Hi,
1)If you have an alert,you got to reply to that and fight for your right.You will have to establish that you are not a violator and request them to place the item in unsold items list so that you can relist that.
2)As soon as it appears in unsold items list,you are out of red.But the red patch of policy violation will remain for may be 3 months.:^O
Thanx,
Truly,
Amitava