Making red Guard a viable DPS option would be a good move. Warden is the best example of how it's much better to be able to fill an alternative role, rather than be able to do nothing and get cast aside. Having their DPS role is the only thing that's kept them relevant for what feels like a few years now. For the long term healthiness of a class, it's beneficial that they have multiple roles. It also has the additional benefit of just making the class more fun to play, being able to switch up what you do from time to time, making the class's overall appeal higher. Red Guardian is actually just a really fun spec too. I tend to enjoy it more than red champ honestly. Few things are more satisfying than a nice crit on hammer down, or dashing in and knocking down a bunch of mobs at once.

Also make yellow great again. As a side note- last time I checked flash of light was not effected by high elf's 5% light damage bonus, so I'm assuming that's a bug.