I think that the second verse may be referring to the reunion, so...
The blood of the planet, (mako energy)
That runs over mountains, (northern crater)
It has halitosis, (bad breath could be referring to the fact that a good enough dose of mako energy can kill you)
But it can do enough spells to make up for it. (but it's redeeming side is that it makes materia)
dunno how to link it to Red though...
