Is it common to have red around the holes of your belly button ring about 2 weeks after getting it pierced?

Yes. It's part of the healing process. They say it can take up to 9 months for a belly piercing to completely heal. It just depends on the person. Mine stopped producing puss around 2 months. You need to clean it for at least 6 weeks twice a day. The swelling and the redness will go away once it's starting to heal.