I vote for the satchel too - because it can be worn as a cross-body if you want, and because I have found that the bucket/hobo type bags are a bit of a pain when it comes to trying to get at my stuff. With the satchel, you get the best of both worlds, since the satchel does come with a cross-body type of strap that you can use - might work for both cross-body AND shoulder bag, while you still get the cute hand-held satchel effect if you want.

Red is my favourite colour - and I don't yet have a red bag, so I vote for red satchel.

I'm going to be a minority vote for the crossbody bucket bag, especially after you linked to the smaller one. Personally, I much prefer the structure of cross-body bags for practical everyday purposes and easy traveling. I also have problems with satchel-style straps slipping off my shoulders, and for a petite (I'm 5'2" and I think you're my height or shorter?) the satchel is too big to wear crossbody.

Color-wise, I vote for red! Also be sure to consider what kind of bag organization YOU find most convenient: width or depth. Somehow a wider-than-tall bag with a broad bottom always turns into an overwhelming pile of mess for me, whereas a slimmer-but-deeper bag stays relatively organized. I love the look of the satchel but I would worry about its practicality.