I've not used either of these, but...
Slick! LT (a cut-down version of the main Slick! 8.0 product) apparently supports redlining -- it's designed primarily for AutoCAD images but is supposed to support other formats including TIF, JPG and PSD. It costs $89 but you can download an evaluation version for free so could see if it does what you need.
Myriad would do the job but costs $250.