My RHN Alert Notification Tool displays red with:
"1 update available (0 ignored)"
Mouse Click once on the red icon gives me this:
Package Name Version Installed Available
yum yum-2.0.4-1.rh.fr yum.2.0.4-2
But when I launch up2date, it says:
"Your system is fully updated. No new packages are needed."
Adam Scarcella