Will give it my best shot.
Red Het Pastel: this means the father (or mother) was a red morph and carries the gene for pastel (het is short for Heterozygous (carries one recessive gene..these are paired. for more on basic genetics, see:
[urlhttp://www.newenglandreptile.com/genetics_simple_recessive.html[/url] )
HypoRed/Orange German Giant: dragon is from the german giant line of dragons, bred for their size. In this case, it has been bred to develop orange coloration as well as size, or jsut an orange dragon bred to a giant giant. HypoRed is the morph (not sure what a hypo red is, other than reduced red...or it may be reduced pattern - red morph, hypo means less. (less red morph?)
(HET Hypomelanistic with Clear Nails): this part basically means this dragon carries the gene for clear nail hypomelanism (reduced brown/black pigment)
What the ultimate coloration or genetics of your baby dragon will be, I can't say. There often is a range of colors in the same clutch and the babies may get more colorful or less as they grow, it tends to vary through a clutch.
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PHLdyPayne