I have never owned a pair of red flashes but that is because I just don't think they look good with my tartan (Ancient Baird). I currently own Green (a shade I would call Hunter Green or Dartmouth Green), Black (New and not worn yet), Purple (New and not worn yet). I do have a set of Royal Blue that no longer fit but I am thinking of adding extra elastic to fix that.

When I got my kilt, it came with matching tartan flashes, which I was lead to believe were more formal than solid color. While I do like the tartan ones, I have had two pairs and they have both worn out. The first unraveled and the second fell victim to moth holes. I have never worn out a pair of solid color flashes regardless of the material. I do not plan on replacing the tartan ones.

As for the fringe versus points thing, Although they are not for me, I bought a pair of Lovat Blue flashes for my brother, to wear with his kilt which is also Ancient Baird. They are finished with a short fringe at the bottom. I like the way they look and will probably get myself a pair or two.

I will add that my hose choices are either Lovat Blue or Black, although I have a pair of Lovat Green with Argyle Tops that I just bought and have yet to wear. So with the exception of the Black hose, I tend towards darker colors for my Flashes. My brother only has Bottle Green Hose so the Lovat Blue was a good choice for him.