Has a red 1 next to it. What does this mean please?

There is 1 new item for you in either "Game Updates" (meaning one of the game you own has received an update), "Forum Replies" (meaning someone replied to one of your posts), or "Messages" (meaning someone sent you a private message). Hover your mouse over the "My Account" button to see which of those it is. You can then click on any of the three sections in the popup menu.

And now there is another 1.

or 2.

;-P

Make that 3 :-)