It is the [mass produced] ShivWorks Clinch Pick. The one with the red handle is a dummy trainer.
If you register on TPI, there's lots of info about them there. Many youtube videos also.
The basic idea is that if you're using a contact weapon, you're within contact range (this sounds like a "duh" thing, but apparently a lot of people overlook this). These are designed to be accessed quickly from your centerline, with either hand. The reverse edges lends itself to a ripping arm motion. This means you can generate a lot more force and inflict a lot more damage when you're all tied up with some dude(s) trying to bash your skull in.
The egg shape of the handles is divine, and very comfortable. For $150 for both a live blade and a trainer, I don't see ANYTHING on the market that can come even close to it. Plus, for another $10 or so... you can have Ban Tang re-edge the live blade if you're not satisfied with the final Chinese edge.