you need a new cat the reason why it turned cherry red is because its clogged and that would also be the reason for it loosing power. personally I would take the cat off sell it for junk and use the money to buy straight pipe to replace the cat

 

okay guys I put a new fuel pump in and still have the same issues!I also bypass the catalytic converter! I feel there's nothing left to replacethat causes a stall issue! please help I'm at a loss now!