I have some form of it on my face, I think (my skin is generally dry but the skin on my face gets red too). For a couple of weeks, I put on cocoa butter cream (similar to aqueous cream) before I went to bed and although it took a while, it did get rid of some of the redness and some of the dry/flaky/dead skin.
I stopped using it about a week ago and just continued to wash my face with cold water and I had no problems until today where it's flared up a bit. However, I didn't go out much at the weekend whereas I went out a fair bit during the week. I think my skin reacted badly to being kept in warm conditions (thanks to my house's central heating) so soon after being exposed to the cold air during the week.
TL;DR - cocoa butter helped a fair bit for me and try and notice patterns in your flare ups. For example, I think mine are caused by a change in air.