Chapter 2 review
Paint the Town Red is a resource economy card, and it also allows you to pull out enemies from the encounter deck (e.g. to fish for a victory point enemy). It's a Parley event so you can use it with an enemy engaged without an attack of opportunity (though why you'd want to I don't know). It also has a and icon, so it's somewhat useful to commit.
For me the only use case for this currently in Chapter 2 is Dexter, and only if you're just using the core box with no starter decks, and only if you're looking to target Bat Horror. Dexter's assets tend to be expensive, so extra resources are appreciated, and with the Bat Horror's 4 health you get 4 resources (and then as it's elusive you can shoo it with an attack action). This gives 2 resources per action spent vs. Emergency Cache's 3 (and even then, you need to not care about a Bat Horror running around for the remainder of the scenario...).
For most other 3 health enemies (Hellhound or Mutated Experiment) then you're then at 1.5 resources per action assuming you have Shadowmeld to get away from the enemy or upgraded Cosmic Flame to kill them in one - and even then I'd say keeping charges on these tends to be more valuable than netting 1 resource. Note for Rogue Gangster he will lose you a resource when he engages, so he's not a suitable target for this.
The resource tech in André's starter deck (e.g. Out the Door, "Watch this!"), or even Spiritual Charm from Marie's deck if thinking of Dexter, make this totally and utterly redundant for me.
Conclusions: Aside the very (very) niche use-case I described, this is one of the most binder fodder-worthy cards I've ever seen! Generally new enemies = bad, and you should not be trying to draw them without a stronger incentive (e.g. Stalk Prey is an example of a good incentive). Unless FFG give us more incentives to pull enemies out of the encounter deck in later campaigns then I just don't see a use for this, and even then usually enemies like this come out of the encounter deck sooner or later without help. Easily the worst card in Chapter 2 for me, and it's not even close!