Red means it doesn't exist, which is strange. How are you adding it, and to which group? Make sure you're not copying the framework to your project folder (which newer versions of Xcode automatically prevent).
this is because it's "intuitive" a child can understand that something is wrong.
All I had to do was open up the "General" settings tab for the project and change the "Base SDK for All Configurations" value. It was set to an SDK that I no longer had installed. This still didn't solve my problem with weird compile errors....