The red items are the ones you really want to get rid of. THey're the dialers, spyware, hijackers, and other nasties that you installed the program for in the first place.
The green items are just User tracks, recently viewed files, the history of visited sites, and the like.
Removing them cannot cause a problem.
It's just a question of how tidy and/or privacy conscious you are.
It's also a matter of personal taste: For example, I prefer to keep on to the logfiles, as I find them informative.
In such a case, you go to Excludes > Products > Tracks, and check 'Log'. That way they will be excluded from future searches, and they will never come up again.
SpyBot is very configurable.
The black items are Registry inconsistencies, and I'd advise you to leave those alone for the moment.
Here are
some excellent instructions on how to install and run the program.
Also have a look at the
FAQ, and at the
How to... page