I only have a good set of jewellery screwdrivers and a lens spanner, was considering to procure a set of the rubber lens removing tools and the lens vise but so far all the FSU lense I've done did not require them, maybe later.
That red grease is Omega 77 which I got when I was in the aviation industry, it's specially formulated to resists being squeeze out of bearing surfaces, is impact proof (refer here:
Omega 77 Bearing & Chassis Grease. Excellent demonstration. - YouTube) and best of all zero oil seperation, if you use ordinary greases, over time the oil will seperate from the base and slowly flow onto the glass elements, causing lens to 'cloud' or 'fog'.
This lube is good, it goes only where there is frictional or rubbing contacts and doesn't 'spatters' i.e. low impacts to the lens does not fling the excess grease everywhere.
Data and MSDS here:
http://www.sovereign-omega.co.uk/Datasheets/Omega77.pdf
The only problem is that it comes in a big drum, even their smallest tube probably contains enough grease for you to lube 10,000 lense !

I'll try to complete the 2nd installment by this year, ...pretty busy as I've 2 oversea trips coming up before the year's up.