The silver and red arrows are part of a thin piece of metal that is captured between the knob and the top surface of the metal lever. There is a rivet holding the three pieces together. It is not uncommon for the piece of metal with the arrows on it to get bumped and rotated.
shutterfinger is right about the correct way to confirm focus. And after confirming the taking lens, the viewing lens should be adjusted to match the taking lens focus.
But considering that you just got the camera and that you probably have much more interest in putting some film through it than learning how to colllimate a TLR's lenses, I'll make a suggestion: do an infinity check with the focus screen. Something far away 500 feet as shutterfinger says. If things seem to be pretty well ok for focus, go shoot some film. And by ok, I mean it's relatively clear, not perfect. Don't spend too much time messing around with trying to fix anything on the camera. Save that for later. Clean the lenses. Exercise the shutter. Make sure that the focus lever doesn't need a lot of force to move because it is prone to breaking. When you open the back of the camera, check two things first: that the focus lever is at infinity so that the back doesn't swing down and break off the knob, and second that the wind lever is rotated counterclockwise to the rest stop position.
If the red/silver arrows bother you, take a chopstick or other small piece of soft wood and push the arrow to rotate it so that the silver arrow points to infinity when the lever is at its extreme position.
In real use, no one uses the focus scale much at all. I've overhauled dozens and dozens of Autocord, and rarely is the lens not set for infinity with the lever at the extreme position. The arrows and the focus scale itself are close but not really needed. Don't worry about them. Use the focus screen and go shoot.
Welcome to photrio. And maybe welcome to medium format. And certainly welcome to the Autocord world. Great cameras, great lenses. Go shoot!