Red star, fall! Stain the earth RED! (incoming Lavos in 5...4...3...)

I remember doing the quest in La Noscea that mentioned the smaller moon getting larger. It's neat how SE throws in these little perks from time to time with the now red appearance to it.

Also I had to look over some screenshots I took in the past, and I never noticed this but it looks like SE also had the smaller moon go through it's own orbit (seen it on the left side, the right side, and not even visible with the larger moon).

Now whether or not the moon has anything to do with Meteor at all will have to wait to be seen.