you have a mk2 punto so you shouldnt have a red key
but if you should have one, and dont, thats what this poll is for. to put a figure on the chance that you'll need the red key, if you need it and you havent got it, it is usually bad. so far we can assume there is a 20% chance you'll need it (in reality it is less likely imo).
if you dont have your red key, you cant program blue keys into the immob. thats probably never going to be a problem unless you lose both your blue keys. if you ever do lose one, make sure you get the other copied (£20 at timpsons) straight away so you always have at least 2 keys.
there is a small chance that one day your code box will lose all the key codes (rarely happens when battery goes flat or if you have a major electrical fault). in that situaiton you really need the red key, without it you have 3 choices:
1. replace the ecu & codebox, and obtain a matching red key. you can do this by getting second hand parts from another car. total cost is usually less than £100. if you go to a fiat dealer they will want to change half the car and charge hundreds more, but its not neccessary. as long as you get a matching ecu, codebox & red key you can avoid the hassle of buying new parts and keys and locks on top.
2. get ecu decoded. you can send the ecu away to have the immob disabled. this will make the car easy to steal (screwdriver would do it), but it will also mean you'll never have to worry about key codes ever again. cost depends where you go, we have someone on the forum who can do this at a very reasonable price.
3. set fire to the car.