Revolutionary Communist Party welcoming call for boldness (7-2)
I believe the answer is:
derring-do
'boldness' is the definition.
(I've seen this before)
'revolutionary communist party welcoming call' is the wordplay.
'revolutionary' says the letters should be written backwards (letters revolve around).
'communist' becomes 'red' (red can informally mean communist).
'party' becomes 'do' (do can informally mean a party).
'welcoming' is an insertion indicator (in sense of 'inviting in').
'call' becomes 'ring' (telephone call).
'red' reversed gives 'der'.
'der'+'do'='derdo'
'derdo' placed around 'ring' is 'DERRING-DO'.
'for' is the link.
(Other definitions for derring-do that I've seen before include "Brave acts" , "Swashbuckling boldness" , "Daring deeds" , "Brave and heroic feat(s)" , "'bold action'" .)