This feature was exclusively part of a joke version and is not currently planned for addition to regular Minecraft. It is documented here on the wiki due to being officially-released content by Mojang Studios, even if not present in a final version.
Redstone bugs have a 1% chance to spawn when a redstone wire increases in strength. The chance increases by 5% for every redstone bug in a 7x7x7 area around the initial piece of redstone. The Color value of the bug can reach from 33292288 to 66846720.
Behavior
Redstone bugs, effectively having been reskinned silverfish, shared all of their behavior.
Data values
ID
Name
Savegame ID
Numeric ID
Translation key
Redstone Bug
Silverfish
60
entity.Silverfish.name
Entity data
Redstone bugs used the ID of silverfish, different from them only by a newly-added Color NBT, which could have any color applied to it via editing. The first byte defines the alpha value and the other three the rgb color.