Question
 

I am interested in making a troll shadowknight on red, how effective are shadowknights? And are exp and race penaltys still applied?

Yep both racial and hybrid penalties are still in.

On the flipside, red has a tasty XP bonus...so you won't notice it nearly as much as you would on blue.

SKs are effective, and can be dangerous with HT...but they don't solo too quick or so good. If you're playing off peak solo you might want to look into some alternatives.

If you want a flavor of what happened at the SK "best of the best" recently, check out the second half of the video linked below :)

http://www.twitch.tv/theonlyproducer/c/2889066