It doesn't have to be white to be albino. The eyes don't have red irises; the eyes are red because the lack of pigmentation of the iris makes the blood inside the iris visible.
Either the albinism only effected development of the eyes or the lacking pigment if its fur is low-pigment rather than no-pigment.
It's just like if a black person is albino. There's sometimes still pigmentation in the skin, but it's much lighter than it normally would be.