Frameworks are 'red' in Xcode

Are you building for a Simulator or for Device?

Try building for Device.

The red text indicates that the actual files are not at the path that the project has for them.

Get info on the framework and look under the General tab. The first section shows the name and path of the framework bundle itself. The most common cause of a problem with system supplied frameworks is that the path type has been changed to something that breaks the path. The default setting is Relative to Current SDK. Change the path until you get one that leads to the actual framework.

If you have the developer tools installed in a custom location, you are more likely to run into this problem. If you copy a project from someone with non-standard settings, you can encounter it as well.