If your iRedTouch does not start up anymore, you can reset some settings within the Settings application, i.e. Apple's app which is installed on every iDevice.
Start Settings and scroll down to the iRedTouch entry on the first page:

Tap iRedTouch and find a small subset of all settings:

You can now, for example, turn off looking for modules and/or iRed2, if the problem seems to be related to network.
Please note that these settings will not apply, if iRedTouch is still running, which often happens on multitasking iDevices, i.e. on iOS 4.
To shut down iRedTouch, double-press the HOME button on your iDevice until a list of apps is shown, swipe horizontally until iRedTouch appears, then hold down your finger on the icon until it starts to wiggle:


Tap the red stop sign to stop iRedTouch immediately. Then press HOME twice to get back to your home screen.