I have never noticed a difference between red and normal hooks.  I have spinnerbaits with red hooks, and spinnerbaits with regular hooks, same skirt, same brand, same color, only difference being the hook.  No difference that i've seen.

This is how I look at it...  if companies sell different color hooks, or different color baits, it means they're going to sell more product because anglers get lured into thinking that they need 50 million colors, and dozens of style's of hooks.  Majority of what is on the shelf is there because people would buy it, not because it's the "best" or works better than anything else.

I never bought into the red hook fad.