Both red together is Good - Live coming in and Live going off to the switch - but when you switch the switch on - live comes back from the switch on a Black wire ! They call it switched live - it should have a coloured sleeve on it to show that it's not a neutral.
The light will work with Switched Live (black) on one side and Neutral (black) on the other side.
I can not comment on the fan.
Peccavi
April 2013