Rule #1:
The number of oscillations of a given light wave will remain constant as the redshift increases over time.
One of the most important implications of this simple rule is that if, for example, an object is observed with a redshift of 1, then the length of time which the object is observed is doubled along with the wavelength. Time dilation is currently attributed to this phenomena.
The increase in length of a light wave is currently attributed to the expansion of space due to the big bang, however, the increased length simply being an effect of redshift itself is a viable alternative explanation. Clarification on the precise definition of the constant speed of light is required, and is essential for standardization of universal models.
TRH opens the door to a steady state universal model which is consistent with cosmological observations.
A full mechanism of the thermal interaction of light is not currently well understood. Under TRH, it is unlikely that photon absorption/re-emission is the cause of redshift. A more likely scenario is a gradual energy transfer to one of several different possible fields, including dark matter, dark energy, cold neutrinos, or a relativistic aether as described.
There is no absorption or re-emission of photons during the process of redshift.
The speed of light by definition does not include the increased overall length of the light wave.
The way in which this rule meshes with the speed of light is interesting.
In order to understand this interplay, a specific definition of the speed of light is required. Specifically whether or not the redshift of light (or the expansion of space according to the ACDM model) is included in the defined constant c=299,792,458 m/s. This is such a minuscule effect that is orders of magnitude too small to even be detected