What is the significance of the red/green arrows in a repository list ?

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Hello,

Just curious, which build of Xeams are you using?
I ask because the method for determining direction has changed recently, also, those arrows look slightly different.

old - 4.7.5776

That is quite an old version.  I highly recommend updating to the latest version as that logic has been modified to where it should accurately depict the correct arrow and associated direction.  

We have a changelog here where you can see all of the changes made since: https://www.xeams.com/changelog.htm