We've had a number of questions about LUTs for Red cameras, so am posting this.

With the latest release versions of LightSpace we have added 'Camera Options' for LUT generation, including RED.
This uses the new IPP2 colour in generating LUTs for use with RED footage.

We've tested these tools on a range of RED footage, and more info can be seen here: http://www.lightillusion.com/camera_options.html
The example there use some RED images to show a selection of the possibilities.

Happy to answer any questions.