For IMX35 redboot, there are followed informations in release note.
* Special notes for i.MX35:
- MMC/SD boot does not work with all cards. The cards that were tested and are known to work for MMC/SD boot are: TOSHIBA SD Memory Card, 128MB and KINGMAX MMC mobile, 1GB
After your board failed to boot, you can connect the board with PC by USB cable and check, if there is no iMX35 Jungo device on PC, that means the boot ROM had jumped into redboot, but redboot hangs up, so that card can't be supported by the redboot. If you can find the iMX35 Jungo USB device on PC, that means the redboot image on SD card is not a valid image, you need check the steps to burn the card.
Uboot is the better choise for IMX bootloader, those code are newer than redboot.