They're both hydraulic oil, just with different additives, and transmission fluid is dyed red to help identify what's leaking. For many years it was common to put transmission fluid in the power steering. I don't know that I'd panic, but if it makes you feel better, or if someone else tells you differently, have the fluid flushed, but at your convenience, not as an emergency repair.
Please consider a to help us answer more questions.
Tuesday, December 13th, 2011 AT 8:23 AM