We think the concept of ACES is a good one. Trying to create a single workflow that works with all camera options seems just fine to us. We are doing our best to help connect RED footage to the ACES program. The Academy is serious and committed to the ACES workflow... and we are too.
But... it is not ready yet to work with RED footage today. We strongly discourage anyone from using ACES in its current form to grade anything RED except test footage. It is critical that ACES is not considered a current solution for production quality work with RED footage.
We will do our best to change this... and we'll let you know as soon as we feel this option is ready.