I've tried the hooks ( Eagle Claw Lazer Sharp ) and their a good quality hook. I'm not sure what the red coating is? Anodizing of some sort? It dosent flake off but will wear off, my dislike is the hooks don't seem to be as sharp as the regular hooks. It's a good marketing strategy catches alot of fisherman but I havent seen where it catches more fish.
Some studies have shown that bass see "red" colors better than any other color. One that I read was a study of shad that were dyed red and some weren't...when they were tossed into a tank the red ones were completely gone before all of the regular color shad were. They did this repeatedly for months and found the same thing happen every single time. This could be the reason for red hooks. Line on the other hand is red for deeper lakes where red colors disappear easier than other colors from the fish's line of sight.