We've seen quite a few red-dominant themes for the 2014 CyanogenMod Theme Engine, but Brad Bertolotti (Sparkyman in the Play Store) has a unique take on it. Far from the usual fire engine red, Sparkyman uses a more of a muted rose hue and contrasts it with various mid-to-dark grey shades with a touch of Holo and steel blue, and some white elements.

What makes Flatred pop

Sparkyman's unique take on red combined with the use of mid-to-dark grey shades (as opposed to the blacks favored by many themers who use red highlights) is what makes Flatred stand out among its peers. It's not a red-grey duo-tone theme because of the subtle Holo blue, steel blue and white flourishes, these evidently meant to prevent legibility issues from arising. Also, the included icons are of a very interesting design that nicely complements the overall theme. Sparkyman told me he was thinking of releasing the icons as a standalone launcher theme, so here's hoping it comes to fruition.

What's themed

Sparkyman gives the following list of items themed in his Play Store description:
Google now (Thanks to darryl dillon)
play music
dialer (Thanks to darryl dillon for help on buttons part)
The text from the description hardly does the theme justice, so I included the following gallery of screenshots from my time reviewing it:

If you want a more extensive icon set to go with your Flatred theme (until Sparkyman hopefully releases his own), I found Axis by Stealthychief to be a complementary choice (no, not complimentary - the oft-updated and over 1,800-strong icon pack goes for a very reasonable $1.99 in the Play Store). I encourage you to judge for yourself:

The Flatred CM11 theme is available for $1.99 in the Play Store.

The Flatred CM11 theme is available for $1.99 in the Play Store.​