Applescript: Watch folder and update labels

folderwatch.md

-- I want edited folders to be red.
	property red : 2
    on adding folder items to this_folder after receiving added_items
         try
              tell application "Finder"
          -- set label of the 'watched' folder to red
                   set label index of this_folder to red
                   -- for the items added
                   repeat with item_ in added_items
                        if kind of item_ is "Folder" then --if its a folder then make it red
                             set label index of item_ to red
                        else -- else make it red....!
                             set label index of item_ to red
                        end if
                   end repeat
              end tell
         on error
              display dialog "Error occured"
              return
         end try
    end adding folder items to