The worst thing is we at ASA don't have anything called a "red arrow" in our contract either. We have "restricted days" which are supposed to be limited to 4. HOWEVER!!! (And this is why the EXACT wording in your XJT thing about not working over 4 days comes into play) ASA management created "red arrow" days which are days where reserve coverage is below whatever formula they are using. (sounds like a restricted day right?) When there is a red arrow day, the system WILL NOT allow you to swap, even day for day. They are not calling them "restricted days" and there for this is not a violation to have more than 4 of these in any month. What has been done about this??? NO IDEA. ALPA has been very quiet other than to say they are working to address the "red arrows".
So unless it is black and white, clearly written, and enforceable, ASA (Skywest) management will find a way around it.

Oh yeah... In any month there are about 3-5 days that AREN'T red arrow days.