I saw one of these a few years ago. When it came up on the marketplace (likely the same one you saw), I'd never even heard of their existence before, and until this thread I'd seen no evidence of them since. I convinced a friend of mine to buy it, so I got to see it briefly before he eventually sold it off. As I recall, it was a little bit brighter than a red SF L1, making it the brightest red light I've seen in my limited experience. Had the usual focused T3 beam with good throw, but it had less of the outer "Saturn rings" effect, as I recall. I think the purchase price was somewhere around $40; sold for maybe a little less. As you mentioned, it had a red button to designate the led color, which I thought was a great idea, and it also just looked really nice. Didn't realize there were other colors too.
Good luck finding more info on it, I don't think I ever did.