The Pressmaster is possibly made in Sweden, in the same factory as Crimpex. The "*760" has been around for at least 35 years; I remember a Crimpex CSA0760 being the best I'd ever seen back in 1990. I don't think it's specified for pink butt splices, but for red/blue/yellow insulated ones it is just the trick. Providing, of course, that you stick to the right conductor cross section for those terminals.
Good to know the history, thanks.

That is a "red" 22-16awg splice, it just looks pink for whatever reason (TE doesn't make any official PIDG pink splices).

If the plastic insulation is slightly translucent like the one I've shown, then it's usually made from nylon and is higher quality than the opaque ones.