Redness lasted a couple of hours for me too, and it wasn't really even redness - more like mild discomfort and a little swelling around each follicle (like invisible to the eye unless a few inches away from the mirror.) Work the day after was no problem whatsoever.
Permanent? I've heard good and bad. Mine, so far, is permanent. Worked wonders on the black hairs, but I've a fair amount of gray going on too which hasn't been affected (nor do I expect it to be.) Laser is a great place to start; if it works, you've saved a ton of money over electrolysis, and if it doesn't work (which is pretty unlikely), it'll at least slow growth down to basically zero and get rid of that nasty shadow.
So far, it's a "highly recommend" from me. Hurts like crazy though, one of the most unpleasant things I've ever had done to me.