I’m pretty sure the big red exclamation mark is just a hazard sign, but it may have functionality I haven’t discovered yet.
When you click on each component in a module it will show it’s current health and it’s maximum damage (along with other info) on the bottom left. Once it’s health is reduced by the maximum damage, the component will break and may result in the module no longer functioning. Even if no components are broken, any damage will result in the module functioning with reduced efficiency. After replacing damaged components you must FIRST close the cover by clicking the blinking switch, SECOND put in the screws in all four corners, and THIRD click on the close button that pops up in the top right. The order is important. If you get it wrong, you have take out all the screws before the lid will close. Sometimes, if you leave a module open and then leave the ship and return, it will appear as though the screws are already in place even though they aren’t.
To access the cargo screen on the Ceres, select the helm control screen on the bridge (top right) and use the ~ key (same as changing the page on your PDA) to cycle through the weapons and cargo screens. You can also hover over the top of that screen and select the cargo option from the icons. Once you’re on the cargo screen, you can select a pod and jettison it, or choose to jettison all your pods.
Hope this helps!