Thankfully the Red Arrow's accident record has been good. This one was obviously very minor - you wonder when it was if an investigation has already been concluded!
There have been two fatal Red Arrow's accidents, a Gnat in 1979 at Kemble and a Hawk in 1984 at Akrotiri, both in training. Certainly nearly all their accidents have been in training, and the high profile display one suffered by Steve Johnson in 1980 was entirely the boat's fault (it should not have been there), and coincidentally the other one was over the sea too at Sidmouth due to engine failure, and the pilot was able fly out to sea and eject in safety. In all there have been 10 involving ejection (6 or 7 of which were technical failures), and one two that haven't (Due to birdstrikes etc).
The unliuckiest one would have to be the Gnats XR992 and XR995, who according to Doug's link got confused when one of them was told his engine was on fire - they both ejected!
Pretty safe to me, considering the fatal accident and maybe one other are the only ones that could be attributed directly to pilot error, and none of those have been anywhere near the public.
