Yes that name doesn't actually make sense, but this deck, at it's core, is simply a Modern RDW. However, the best cards in Magic happen to be not-red. Therefore, if you want to have a good Red Deck, you need black and green cards!!! (LOGIC).
If you don't know what a Red Deck Wins deck is, quite simply, it's the super aggressive red deck that tries to win very quickly. When it works, everybody watching/playing thinks "This is stupid, how can you possibly beat this" and when it doesn't work it looks really bad. I think that the addition of Black and Green makes this deck a bit longer lasting than your average RDW and while it's rare, you can win with this deck after the first couple of turns - but don't count on it.
Black is for the best two drop of all time: BOB!!! Dark Confidant and Blightning are two great cards for getting you card advantage and dishing out pain. Confidant's "drawback" should never really hurt you too much, and Blightning is a great spell to cast on turn three as a preface to you actually finishing them. It's also there for Killing Wave. Killing Wave is another great card to have in this deck against decks like Merfolk or other creature based decks. Most of your creatures either die at the end of the turn or return to your hand. Therefore, sacrificing them is not a big deal. Your opponent, on the other hand, is forced to either pay life or lose their creatures. It can also be helpful to play even if you are only getting rid of Bob, because sometimes when it gets down to it Bob can spell disaster for your life total. Killing Wave can also help give you the advantage in a game that goes longer than you would want: their total is low, but they have creatures to block your Elementals. You Killing Wave for two or three, forcing them to sacrifice all their creatures then you Hell's Thunder for the last bit of their health.
Green is in there for one of the absolutely stupidest cards ever printed: Bloodbraid Elf. At that card's worst in this deck, you're playing it and you're getting a Dark Confidant. At it's best, you're swinging for 3 plus a Blightning or a Hell's Thunder on turn 4. That's 6 damage, and after your Goblin Guide, Keldon Marauder, various Elementals, burn spells, Molten Rain, and maybe even Zo-Zu have been chipping away at your opponent, that can easily be lethal damage. Also, against a RDW style of deck, most players will drop their counter spells on your Goblin Guide or Dark Confidant, meaning that more often than not Bloodbraid Elf will go uncontested.
Other than those couple of cards, there's actually nothing that special about this deck. Against Merfolk dropping an Engineered Explosives can be great for two or three (another thing that black and green mana let you do) and against decks that ramp a lot you can add in another Zo-Zu, Tectonic Edges, and try to kill them super fast while delaying their ramp.
This deck is way more fun to play than the average RDW and generally speaking I think it's more reliable. You can win later in the game with this deck than a lot of players might expect because of how much card advantage black gives you and how much damage Bloodbraid Elf can instantly dish out. That being said, don't expect to win a lot of games beyond the first six or seven turns, and you should try to win before then anyways.