Red Death's special perk that is named the same as the gun is described in a way that doesn't match what the perk does. The description says, "instantly heals" but instead of healing it actually just triggers your health regeneration. It should either do exactly what it says; refill your health bar instantly the way String of Curses on Bad Juju instantly refills your magazine, or be changed to state that it instantly triggers health regeneration instead.
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Works pretty good while in the presence of Crota .. I'm not picky .. I'll take the health regen