Mike:
I have had success filling damage like this on ski boat. You can purchase a gel-coat product from a boat dealer or online, some kits come with color tints that can be mixed to come close to the color.
There is another product that I have had luck with; it's body-filler that is made for repairing the composite front and rear bumpers on cars. It fills and sands quite nicely.
Apply masking tap on each side of the gouge and use a piece of this plastic to apply the chosen filler. Once the gouge is filled, sand the area using a flat wood block and 1200 or higher grit wet/dry paper. Then remove the tape and sand to a flush condition. In some cases you can actually bend a thin plastic applicator (cutting one from plastic from bottle products works well) to create a slight ogee undercut, which will allow a slight indentation for paint and clear coat to build up, sand this flush and wheel out with a compound.
I have had good success applying clear-coat with a small brush, sanding, and buffing with compound when repairing clear-coat delamination on my paint.
With a lot of patience you might be able to wet sand the red paint off without breaking through the clear coat. I have also found on my Beaver that acetone and or lacquer thinner does not attack the clear coat, it may remove some of the red paint. Of course, try a small area first.
Randy
