If I remember correctly it's only tip and sleeve. No ring. I also have a Red Knob Twin and I had built a footswitch for it. It's a 2 button foot switch. It shunts half of the wave form to to ground depending on which switch is activated using the diodes. Or something like that.
The tip and ring are shorted when no jack is present.
The way that jack is drawn on the schematic, I can see how you might interpret it as tip and ring shorted together, but that interpretation is incorrect; it's really just a closed circuit mono (TS) jack.
-tb
"If you're the only person I irritate with my choice of words today I'll be surprised" Chuck H.
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