Can anybody tell me why this is happening. One of my Paradiso Nero figs has changed colours even though it is smaller than most of the other figs that are still green. Does this mean it's a bad fig? or that it will ripen sooner? Very curious.....

This will be my 1st year to get a rip fig from this tree. Last year it produced its 1st fig in late August but of course it didn't ripen in time.

 

My RdB is doing the exact same thing, all of a sudden new figs and immature figs are turning bright red!

Given the size of the other figs.  The one with early colouring is likely about to be aborted soon.

That's OK it happens all the time, all figs will drop a few figs.  They usually colour early, start to look shriveled and if you touch them they drop off.  Its only a problem when most of them drop off.  Some varieties as soon as they are subjected to some stress start dropping figs.