Honestly don't know what would happen if they put Reactive Reload on Red Death. It used to be able to roll on Pulse Rifles, but it was removed from them because the damage they could do with the perk active was pretty crazy especially when you consider how it changes the Body Shot/ Head Shot ratio to kill a Guardian (I talk about PVP because that's probably why Pulse Rifles can no longer roll with Reactive Reload).
It might be something cool that Bungie could try because Red Death is an Exotic after all.
[spoiler]Bad Juju does get a damage increase after a kill so putting Reactive Reload on Red Death might not be too crazy.[/spoiler]
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I think it would be ok. Red death has poor range and aiming with it is not as easy as other pulse rifles. Adding reactive reload would really define it as a true exotic.