How Long Until the Redness Goes Away After Mole Removal?

I would discontinue the Polysporin at this time.  You may be developing an allergic reaction to it.  At this point, I would recommend using a moisturizer with spf on the area.  Also, be careful with sun exposure on the area.  It may take several months for the redness to improve, but you can conceal it with some cover-up.

It takes about 2 weeks after removal of a mole for the skin to heal and then you can shave carefully over the area.  The area will be red, then pink for several months.  Stop applying Polysporin since you may develop an allergic reaction to it.  Avoid the sun on the area to prevent pigmentation of fresh skin. 

After the initial surgery site heals (e.g. few weeks), you can shave without problems.  Th scar redness may persists for a while, and in fact it may take up to about a year for the scar to remodel.