In the Physical Model Explorer view | Entities, there is a small red cross in the bottom right hand corner of the icon for some entities in the model. On verifying the model, no Errors or Warnings are displayed.
The red cross against the entity icon will appear if the 'Generate' tickbox is un-selected in the Entity properties, when you double-click it in the model.
For more info on the icons, please see the technical documentation here
When the 'Generate' option is unticked, it will show the icon with a red cross, and it means it will not be included in the DDL script you may create of the model. If you double-click the Entity and then tick the 'Generate' box in the bottom left corner of the properties window, it will remove the red cross from the icon.