Monica,
I haven't done much appliqué, but I can certainly understand your concerns.
Just recently I had some color bleeding issues, which I feel I have resolved. You can check out my last few posts on my blog for further information.
www.letscreatetoday.blogspot.com
I would definitely cut a small piece of the red, 12" square?, and soak it in hot water with a little Dawn detergent mixed in. I would keep this warm for 12 hours of soaking. You could use a styrofoam cup set inside another styrofoam cup for insulation. Just be sure your fabric swatch can swish around within the size you use. I know it sounds like a long time to wait, but if you do it right after your evening meal you won't be tempted to rinse it at 11 hours!! I have no idea the phenomenon that is associated with that last hour, but it may be just what you need to see if there is any dyes coming out. If your water is clear, rinse your little test piece out and let it dry. Then use it for testing thread colors on top of before quilting. Just a thought.
Hopefully others will have more tips for the appliqué portion.
You may want to join in our virtual retreat 'August to the end of the year' one. We'd enjoy seeing how you progress with what sounds like a beautiful project.
Luann