I think ElixirScript has more legs. RedScript was just a project I tinkered with 2 years ago and recently refreshed it post ES6 era and after getting into 'functiona' programming.
RedScript is more like CoffeeScript and ElixirScript is more like Elm/ClojureScript IMHO. It has little to no overhead overhead after transpiling however 2.0 will use seamless-immutable (via CommonJS) to help with copying data.
Here's the 1.0 before/after conversions:
https://github.com/AdamBrodzinski/RedScript/blob/master/spec...
It still needs a proper compiler, this is basically using RegEx to match/replace (it was a project to learn RegEx). It's surprising how far it takes you. I've built a small web app with it and it works well. I don't trust the compiled output without testing though (due to the RegEx strategy).
I haven't had to the time to make the changes in the complier but shouldn't take more than a few beers and a weekend :)