The red paint is intumescent fire proofing, the unpainted steel well get spray on fire proofing ( basically a layer of cement sprayed onto the steel).
A BLANKET OF INSULATION
Intumescent coatings start turning to insulating foam at a temperature of 300°F - less than a hundred
degrees higher than boiling water. The heat sensitive ingredients in the smooth coating react and froth
up into a foam containing millions of tiny hollow cells. The expansion incredibly rapid. What was once
a smooth, decorative surface turns into a thick protective layer of insulation.
http://www.fireretardantsinc.com/fire_retardants101.html
http://www.youtube.com/watch?v=FaVblCHQjVY
The core steel is unpainted because it well be encased in concrete.