I am installing a track light fixture in an area that cannot be seen, I am just installing it there to replace the bulky and undesired light of fluorescent bulbs (the fluorescent light was working). I have removed the fluorescent fixture and there is a white and red wire coming out of a small hole in the ceiling, no electrical box or ground wire. I would rather not install the eletrical box since I am not really concerned with the appearance and I'm not trying to do a lot of custom work. What can I do about the ground wire? There is a third wire coming out of the track light specfically for a ground, it is wired to a metal component on the light but also has a connected wire to that with instructions to wire to the ground from the ceiling or electrical box. Any advice would be greatly appreciated, hoping this can be a 30 minute to an hour project...

The new light will work without a ground but it will not be entirely safe. Apparently your old fixure wasn't any safer. Colored wire is the hot wire and white is your neutral, all that's needed to get a fixture to light. Green or bare is ground for safety

Since the fixture will be hidden, would it be helpful to screw a nut to the ceiling and ground it that way, I've read other comments that suggested grounding to a nut?

Absolutely not.

For a circuit to be properly grounded, there needs to be an equipment grounding conductor from the panel to the outlet.

The NEC requires that all wires to a circuit be in the same cable sheath or conduit. This means that you cannot just run a wire from the fixture to, say a nearby water pipe and consider the fixture to be properly grounded.

What you would have to do is replace the existing cable from the panel to the lighting outlet with a 14/2 NM cable and properly connect the grounding wire and positions.