Dave and Rarebear did experiment that indicates safety factor of the "Red" variac.
1. Dave: Gene - 1200W - Draws 11A @ 110V - Blows 20A "Red" variac - 20/11 = Safety factor 1.8
2. Dave: Hotop - 750 W - Draws 7A @ 110V - Uses 30A "Red" variac - 30/7 = Safety factor 4.3
Assuming that Rarebear runs his variac without sweat, based on those two experiments I would say that safety factor 3 can be used as border line for "Red" variac.
Most probably Hottop could run on 20A "Red" variac, and Gene could run on 30A "Red" variac, but we need more burnt variacs to prove that.