That is correct. I had one in the 1980's, and a NIB one now. Plus, I've had the Maxi-Alpha 3. Currently, you can grab Black Versions from the "Red Flare" kit #1954, currently available from Estes, but I suspect it will be out of production soon....so I nabbed a dozen kits to make some Colossus Clones.
kuririn answered the question on September 18th. The Colossus was a stretched Maxi Alpha III. Exact same fin can, part number 33210 (https://estesrockets.com/instructions/). While the Red Flare fins have a different part number, 33389, the pictures posted by Red7fifty sure look the same. It's not unheard of for Estes to change part numbers for the same part over the years.