Hi @guiltyplaid , welcome to the PBC!
Are all the pins standard pins or some Idea Pins? The red promote button will appear over your standard pins, while you the red save button will show when you hover over Idea Pins.
You are able to promote standard pins this way. At the moment, you are not able to promote Idea Pins in this manner.
For Idea Ads, you'll have to create a campaign using the Pinterest Ads Manager feature.
I hope this helps.