From the spec-sheet it should work just fine.... If I were doing that especially in a home make SURE and use phase tape on the conductors so if later down the road another electrician works on the house they do not get confused. Red is usually designated as a switch loop OR for the 2nd leg of a 220 volt circuit. My suggestion would be to use the white (neutral) and black (hot) as normal and then use the red wire as your ground and wrap it with green electrical (phase) tape. This should help avoid any confusion later when working on that circuit.