This is NCG6826 better known, as the Blinking Eye (planetary nebula) The planetary nebula phase is short in a stars life. On the order of around 10,000 years for this one in particular. Something in this photo is unusual and strange. There are two red “arms” on either side. If they are jets or some such from the star, they are expanding the wrong way. This is another HST photo and comes from the APOD archives.

http://antwrp.gsfc.nasa.gov/apod/image/0105/ngc6826_hst.jpg

- those red areas could be the result of light being refracted from a source behind the the nebula.

Good thought. Such would explain the apparent defiance to the laws of physics.