From its Github readme it seems it's only an overlay, so no different from Twilight (other than being open source, which is good). Cannot compete with f.lux/C.F Lumen though.
Just so you know, we did give Red Moon a toggle, and it lets other apps send Intents to turn the filter on/off, to help integration in other apps. See https://github.com/raatmarien/red-moon/issues/11 and https://github.com/raatmarien/red-moon/issues/80.
I've never used Tasker, but I've been told that at least the toggle allows you to turn Red Moon on and off through Tasker, so that may be useful to you.
Unfortunately they still do. This is because the screenshot feature of android explicitly tries to capture your screen as accurately as possible, which means that it will also capture our colour corrections. Because of this we haven't found a straightforward way to keep the screenshots normal. For more info, see here: https://github.com/raatmarien/red-moon/issues/104
Of course, you can always just pause Red Moon before taking a screenshot, which is what I do :)
Well, Red Moon doesn't tag any data along to websites as you can see here. However, I understand that if you believe Red Moon might be malicious and exploiting bugs in Android, you can't be sure it isn't sharing your location.
I think a solution would then be to just turn off your location services, since no app can be shown with 100% certainty to not be malicious, so no app should be able to access your location. Another option would be to simply fork Red Moon, remove the permission and build it from source yourself.