The movie Red Riding Hood was panned by the critics (it only received 11% positive reviews on RottenTomatoes.com); however, there are a few good things in the movie. While most of the recent movies tried to provide a "realistic" medieval look, this movie intentionally used a more fairytale-like look of the little town, its townsmen and the woods. Along with the passable exciting second half of the movie (where the protagonists are looking for the werewolf) the movie might be interesting for one or two movie fans.
On the other hand, there are a lot of weaknesses which have to be ignored in order to enjoy the movie. For one thing, the horror-element is there, however, it is very reserved so that the target audience - girls and young teenagers - won't be scared too heavily. Gary Oldman's (who plays the witch hunter) performance is not at all refreshing and rather reminds you of a dozen similiar characters in his older movies, however, more appropriate for kids this time. The rest of the cast (including Virginia Madsen and Julie Christie) doesn't really seem to have the chance to act in one single interesting scene. Two of the most irritating aspects of the movie are the long dance sequence and the witch hunter's life guards (which is mostly made up of African Americans and Asians). Since it's more than obvious that the movie is trying to cash in on the Twilight fad, Red Riding Hood actually even gets into a love triangle for a short time, however, it fails to stick with the intensitiy of the Twilight movies and ends rather quickly.
Only the Blu-Ray version offers the so-called Alternate Cut (a term which you rarely ever find on US DVD/Blu-Ray covers). It's not really an Extended Cut and the usual Unrated lable didn't seem to fit to the target audience. The differences in comparison to the theatrical version can all be found towards the end of the movie. There's an alternative and (as the marketing department likes to call it on the backside of the cover) more "provocative" ending. The Alternate Cut was also rated PG-13.
Overall, the Alternate Cut offers 3 alternative scenes, 1 new scene and 2 scenes that were cut out of the theatrical version. Overall, the Alternate Cut is 26 seconds longer.
Alternate Cut: 90:54 | Theatrical Version: 90:54
While Peter (who was bit by the werewolf) and Valerie in the theatrical version at first want to find out how he's managing his new life situation, they in the Alternate Cut have sex in the snow before they go separate ways. (The theatrical version offers an alternative transition which is 2 seconds long.)
Alternate Cut +70.5s
Alternate Cut: 94:02 | Theatrical Version: 92:53
Before Peterand Valerie bid goodbye we see a short clip of what happens in the future (a common thing that happens every now and then during the movie). Both versions offer a slightly different cut of this flash-forward. Additionally, the theatrical version shows a few sequences from the sex scene which was just described. Therefore you get the impression that the two of them have sex after they meet up again at some point in the future.
Alternate Cut: 7.5s | Theatrical Version: 18s
Alternate Cut: 94:43 | Theatrical Version: 93:45
When Peter and Valerie go separate ways, the order of the scenes is different for both versions. Every now and then, some of the sequences are slightly longer/shorter, but that's not really worth mentioning.
Alternate Cut: 45.5s | Theatrical Version: 43.5s
Alternate Cut: 95:29 | Theatrical Version: 94:28
In the theatrical version we see Valerie living in her grandmother's house when she suddenly recognizes something in the woods - it's Peter as a werewolf.
Theatrical Version: +25.5s
Alternate Cut: 95:32 | Theatrical Version: 94:57
In the theatrical version you see Valerie again. She's happy about her visitors.
Theatrical Version: +4s
Alternate Cut: 95:35 | Theatrical Version: 95:05
In the theatrical version we in the end see Valerie smiling. The Alternate Cut, however, has not shown Valerie, yet. And there's a reson for it - the snow sex had a side effect: she was pregnant and now holds her and Peter's baby in her arm.
Alternate Cut: 5.5s | Theatrical Version: 2.5s