Near the end of the film - when Tristan discovers that he is the last male heir to the throne - the princes' ghosts all turn into 'spirits' - I believe the red one is Septimus? - but whereas six of the white ones fly off into the sky, the red one flies off below: did this spirit enter the Necklace (the stone being a ruby, and whatnot) or did it perhaps depict it going into some sort of hell, whereas his brothers go into some sort of heaven?
I think the "going to hell" theory actually makes sense, Septimus being by far the most wicked of the seven princes. In the movie, it came across as if his father also favored him most as a successor. He makes Secundus look out of the window, knowing full well Septimus will take this as an opportunity to kill him - he even gives Septimus a sign to push him out.