What is the advantage of an isolated ground receptacle? In most cases none.
You can re-identify the red as the iso ground however you need to consider a few points and what that isolated ground conductor is going to do for you.
First, both receptacles should be individual home runs or at least the isolated grounds need to be run individually back to the panel from each receptacle.
Second, in your case, instead of going to all that trouble just use plastic boxes, a regular receptacle and 12/2 NM home runs from each receptacle back to the panel. You now have your isolated ground without all the agravation.
[This message has been edited by hbiss (edited 12-22-2004).]