Rescue light red Time Machine backups after El Capitan Update
Hit “enter Time Machine”
Press the key combination shift-command-C
Then (very important) select a red bar to go back in time
Explanation: dull red bars represent backups you cannot access, bright red bars you can
Then from Macintosh HD navigate to desired folder you want to restore
Backups will now be accessible and you can select the folder you want to restore.