Probably just wasting a lot of time on this. It's was probably just a short lived marketing thing.
The reg looks just like the III with the clamp ring. I have a beta, I believe is a MR10, that I keep around just as trip spoiler insurance backup. That has the plastic clip and screw on cover.
Most of the reg's in the image have the Silver M with down arrow under center, which was used alot.
Curent logo black Mares with red down arrow under the M.
Other logos black Mares with red, yellow, green rainbow under mares. Too many variations.
My curiosity was this looked identical to the III but with a colored logo.
If I find a definitive answer I'll let you know.
In the mean time thanks for all your expertise and willingness to share.