Not sure I understand your question ...
Thanks for your reply. There's a red light coming out of the audio output on the TV. Is that what you meant? Or are you asking if there's also a red light coming out of the digital input on the converter (there isn't)?
I don't know what 5.1 audio is, but these are the technical specs the manufacturer of the converter provides:
"Supports sampling rate at 32, 44.1, 48 and 96 KHz. 24-bit S/PDIF incoming bit stream on left and right channels."