Just a look under the hood.
When the ball flashes red, that means the player can change direction and successfully keep the ball. Two skills will determine the behavior - dribbling and close-control.
A player can do close control (change direction) when the ball is close enough to him. Better dribblers keep the ball closer, so can change direction easier. This dribbling aspect is shown in the vids, first an average dribbler, then an expert dribbler. You can see how timing comes into it to change direction at the right moment.
The close-control skill is not demonstrated, close control is 100% sure fire for now. That means, if the ball is in control range, the close control will always be successful. In future the success rate will depend on the close-control skill rating.
An average Dribbler:
A great Dribbler: