@c_bovo
Rather than changing the window family to another type, try and temporarily hide the window with the Revit Temporary Hide/Isolate tool (Eyeglasses). This will retain the opening but hide the window family establishing whether the red element is part of the window or behind the window. With the window hidden and the red material still visible you can tag the revit element with a material tag to help identify the offending family.
Ex.


Another test would be to reduce the elevation view depth to just inside the interior thickness of the wall to see if the red disappears.

As @jay_colc mentionned, the second wall is still a possibility if the wall is masked by visibility parametes in other all other views but the elevation view. If you create a new 3D view, open all workgroups, make all types visible, and set to realistic, do you also see the red material?
Without access to the project file, its all detective work.
Hope this helps,
-luc