Yes, You are right my friend, the above mentioned steps will only clear/reset the red highlights from SM50. As per my understanding I believe that is one of the query raised by Andy 
Okay, lets dig little deeper now 
Hi Andy,
After resetting the failure status if you are still getting the red highlight in SM50 then please share us few more info from the developer trace (dev_wx)file.
I know its not possible to attach the entire trace file since its big but what you can do is:
- Please make a note of the "failure reset time" (the time when you reset the failure list)
- download the trace file to your local desktop ( Select the wp with failure status from SM50 >> Administartion>> Trace >> Save as local file )
- Search for the word "error " which appears after the failure reset time. Please take a snap of the error logs and paste it here which will help us to investigate the root case for this issue.
- And also please check and share if you see any error log in tcode SM21 and ST22 at the same time.
Attaching a sample screenshot for your reference from dev_wx file:
Awaiting for your reply!
Best Regards,
Mervin Joseph