According to the project page, this module supports redirecting all mail to a single address on the 7.x-2.x branch.

redirect any system generated email to your configured email domain or address
blockquote (specific for 7.x-2.x and newer

This led me to believe that 7.x-2.0 supports mail_redirect_address because semantically 7.x-2.0 is included in 7.x-2.x. "X" is a wild card that could include any number, including 0. Please update the documentation and clarify that the dev branch only supports this and not 7.x-2.0.