GREER'S GUIDEBOOK TO AVAILABLE RHODODENDRONS (1996, Harold E. Greer) styles the name 'Red Wood', provides this description:

"Glossy foliage is held on red stems, forming an exciting combination with the bronzy colored new growth. Large trusses are comprised of pale pink flowers, which mature to creamy white."

The GUIDEBOOK also says it is a Rhododendron insigne hybrid, its representative 10 year height is 6 feet, it is hardy to -20 degrees F., and it was introduced by Hobbie [in Germany] sometime between 1965 and 1970.

Here is a link that might be useful: BOOKS AZALEAS AND RHODODENDRON

I have Rh. Redwood in my garden. It is a beautiful plant for foliage- always dark green and glossy held on those red stems. Yes the buds are very pale pink, opening to white lightly touched in pink, blooming toward the end of the rhododendron show. Mine does quite well in full sun, in rich soil. At about 10 years in the ground, it is nearly 4.5 feet tall, and about as wide. We do pinch our larger growing rhodies to keep them full and compact; if we had never pinched it, Redwood might be a little bigger than it is now.

PLANT LOCATOR - WESTERN REGION (2004, Black-Eyed Susans Press) also lists it as 'Red Wood', and not 'Redwood'.

Thanks bboy and silver creek. Using 'Red Wood' as a search term gave me a few more hits on the internet. I think I've got a pretty good idea of what to expect from this plant now. Even tolerates full sun, according to one site. I've already planted it in a light shade area and am looking forward to seeing the blooms which should be coming within the next month or so.