Congratulations. If you didn't get torque arms, you might consider buying some. (To be safe, torque arms should be used on any hub motor, front or rear mounted. Even steel dropouts can fail, just not as frequently as aluminum.) One of the biggest complaints about Chinese manufacturing standards on electric motors is that gauge of wire they use is too small. Over time, you could experience some problems so you might want to hit the throttle gently. I suspect the red button is a kill switch, a good safety feature to have. Remember to make sure everything is waterproof, including the thumb throttle (they can get stuck in the open position, which can be bad). There are some videos on You Tube posted by Power-In-Motion on how to waterproof your e-bike. (Standard, electrical tape or silicon on wires; you can use regular plastic wrap you get at the grocery store along with a hair dryer for the thumb throttle.) Here's a link to the video describing using plastic wrap to waterproof the thumb throttle.
http://www.youtube.com/watch?v=2Cl96QyfAOw Enjoy but ride safe.