Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
I may be talking out of my a$$, but from what I gather, the headphone jack on the MB also doubles as an optical input jack, hence the red light. In Windows however, maybe it's not recognised, so it just turns on all the time?

Can someone more informed than me maybe clarify this?
 
That is correct, that is the optical output from the headphone port. Although, this was addressed in a more recent version of Boot Camp... you should probably update your drivers.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.