SarvaaruNa = who is linked with everything red - who is entirely red in every detail.
50 anavadhyangi = whose body is pristine, superior and unparelleled
SarvaabharaNa bhooshitha = She who dressed with complete fineries
Shiva kameshwarangastha = She who is part of Shiva
Shiva = Who has all attributes of Shiva - Who is Shiva
Swaadheena vallaba = Who is independant of her beloved Shiva i.e (Who exists on her free-will)