I'm not gonna say that this one is a low budget movie done right, nor am I gonna praise it and recommend it to everybody, but I will say that I was relatively impressed. Why? It doesn't look cheap, doesn't act like that either, the make-up is acceptable, the story works, not too thin, not too complex, and the acting, except the main character, is OK.
Not much to say about "Code Red", a simple, and maybe, effective zombie movie, does not act like a tryhard, and most definitely not like a gore fest. It is an OK movie, one of the few that actually managed to make a positive impression, so, will I recommend it? Well it's not as bad as "Zombex" but not quite as good as "Outpost: Rise of the Spetsnaz", somewhere in between, therefore, you have a reference point, so you'll know what you'll be up against.
Overall, "Code Red" shows that an effort was put into it, and that somebody wanted to make something, a zombie movie, with a small budget, that won't be a laughing stock as so many are. I say it succeed!