Red velvet is a confusing protein flavour. Red velvet cakes are just regular vanilla cakes, but with beetroot extract to make them red. So really it's just red coloured vanilla flavour.
Regarding MTS whey, yeah it's a great protein. Flavours are strong, nice thick consistency and no digestive issues. It's just a little pricey at the moment with the Aus dollar dropping in value. You used to get a 5lb tub for $90, now they're $110.