In physics, redshift happens when light from an object is increased in wavelength, or shifted to the red end of the spectrum. Redshift means things are expanding away from the viewer, growing. Use of the color red is a good idea, but not absolutely necessary. Use of the color spectrum is an option - as well as exploring LIGHT - beams of light, glowing, lightwaves, spotlights, etc. On text - you can use Redshift alone, with Lighting as a descriptor below (like the RedLeaf Packaging logo), or redshiftlighting, with Redshift getting the emphasis (like the carrierfilms logo), etc. Surprise us also with ideas that are outside of the 'light' arena - unique uses of the letter 'R' maybe. Or visual ways of saying shift - movement, excitement, etc. Remember this company provides stunning light design for live events - there's some Hollywood, rock n' roll, Cirque de Soleil entertainment value to all of this, so their logo should look the part - artistic, unique, hot! Knock us out; we're game for all good ideas!
NOTES ADDED 9/2:
I have guaranteed the prize - some neat ideas so far. I look forward to more great ideas, icons and typography! Two concepts that I am adding to the brief to consider are LENS FLARES (when light hits a lens and forms shapes, usually circles), and an ECHO image affect (playing off the idea of 'shift' in the name) - maybe there is a positive/negative, or a shadow repeated of a shape, or a shape broken or duplicated, etc. to illustrate SHIFT. Just a couple of ideas.
Please consider weight of font in typography. Picture this logo and name being stenciled on the side of a cargo box, the kind you see backstage at a concert. Would your type hold up? NOTE: This doesn't mean every font has to be BOLD as heck, just a note that extremely delicate fonts may not work.
Also if possible to make things simpler, please give your type some love - nicely kerned type design, not just a font typed out on the keyboard, goes a long way to getting us excited about an idea.