Older condition reports use letter codes instead of colours.

Code Meaning Today's colour
K0 Cosmetic damage No colour
K1 Less serious damage Grey
K2 Serious damage Yellow
K3 Critical damage Red
UN Needs further investigation Black

K3 and UN are the ones to look at first. UN means the building expert saw something but could not judge the extent. It can be anything from nothing to an expensive repair.

Is an old report still valid?

A condition report is valid for 6 months for the purpose of home buyer's insurance. If it is older, the seller must get a new one or a renewal before you can take out insurance based on it.