In one of the recent Mid-America catalogs, Paul Black stated that he believes that it will be possible to develop "visually red" iris in the near future. We saw a seedling of his (or maybe Tom Johnson's) that is certainly close:
There is some orange and a bit of violet in the standards. But, it would be hard to say the falls are anything other than red. From a distance, my reaction was "Wow, an actual red iris!".