Hi mate,
I've heard of people using fast-sinking shooting heads, heavily-weighted clousers and short, sharp long, slow strips with some success.
If you have a sinking line and a baitfish pattern, have a crack at your local snapper ground. Not much is known about Reds on the fly, you might come up with something new.
Good luck.
Richie.
EDIT: Further information has come to hand.