Ok I am not sure if I am in the right section to ask this question, but I figure if I am in the wrong section you can point me in the right direction!
My screen keeps going pinky red in colour, what is happening? what can I do to fix it? and will affect my computer in a bad way?
If it's not a loose connector as Banfa suggested, then one of the electon guns in your monitor is probably dying - my guess is the green one, but possibly blue. Could be a dry joint or something inside the monitor. I had this sort of problem, years ago.
In my (limited) experience, it may take a long time, but eventually it will become permanent, until one day the monitor goes "bang" and scares you, and dies completely.
In any case, it's most likely a hardware problem, and should be taken to someone properly qualified to fix it (inside monitors can be
really dangerous), or replaced. Keep in mind, electrical faults are one of the biggest causes of house fires.
Of course, you can verify it by connecting the monitor to a different PC, or vice versa.