A solid red light on Mtroniks speed controls usually indicates 'no signal' from either the transmitter or the receiver. Although you say you have tested the channels independently.
I have made the following 'cock ups' in the past.
Plugged the speed control into the battery input socket on the reciever, no signal output on this channel=red light.
Plugged the speed control into the ch7 socket on a Futaba radio, then spent 20 minutes trying everything until I realised I was using a 6 channel transmitter=no seventh channel signal which=red light.
Plugged the speed control in the wrong way round into the receiver, didn't blow it up but=red light.
Try pugging a servo into channel 1, test it, if it works, plug the speed control into channel 1, checking polarity as you go, if that doesn't work you may have a problem.
Oh yes, check both transmitter and receiver are on the same frequency, sounds stupid, but trust me, it happens to us all.