from google
The circuit won't work, unless the positions of the red and green LEDs are exchanged, but then the red LED will light if the fuse is good or the green one will light if it's bad.
Adding a couple of diodes (one might be enough, it depends on the forward voltage of the green LED, one will probably suffice for yellowish-green GaP, but you'll need two for pure green InGaN) in series with the red LED, will make the circuit work, as the original poster wants.
R1 isn't needed, unless the intention is for the LED to light, when the supply voltage exceeds a certain threshold.
EDIT:
Another option is to use the
original circuit and, rather than a real red LED, a phosphor converted LED, i.e. pink or white, if you can't get red (add a red filter if needed) and an old yellowish-green GaP green LED, which will have a lower forward votlage.