There are several reasons for having blood in coughed up sputum. The most likely, in the case you have described, is that it is coming from an inflammation in your upper airway that periodically has some bleeding. This is not uncommon in chronic sinusitis. If it increases or is evident even when you are not coughing, it has to be evaluated.
The second question is much more difficult to answer. If the
septumSepta
Septoplasty repair leads to a cure of the chronic sinusitis due to better drainage from the sinus, then your problem will be dramatically better soon after the surgery. If the problem is greater in scope than just the septum deviation, then this problem may not go away or may go away and come back soon thereafter.