I know a few guides on the San Juan in northern New Mexico that used to use a bare red hook with great success.
They have since stopped the practice for economic reasons. It's hard to charge a client for a bare hook.
But they work. Quite a few conventional tackle bass anglers use them and feel they give an advantage.
I've tried tying bass patterns on red hooks, but haven't found them to be more effective than the non colored hooks I've always used.