Here are my thoughts on it.
Blues are outnumbered anyways and should be able to charge freely without any restrictions.
Reds being able to charge SOUNDS fair but in reality, it's a shit show. I only recently discovered "the demoknight" but I find it FAR too easy to rebel as one. All I have to do is hit a guard and then it's game over for the blues. This, in turn, will lead to endless rounds of demoknights rebelling and no proper rounds.
Although I am against completely removing charge from red, I think it should be nerfed heavily. The best bet is to probably let red demos charge only when they have picked up an ammo crate rather than from hitting a guard. Also, increasing the recharge time and/or removing the charge resetting when you kill someone sounds like a fair nerf.