I agree with Lee, there is of course a possibility with everything in this hobby but to be honest it is SO radically different than a normal greyish cape that it has to be approached with caution and probably doesn't originate from Europe/UK.
I would be more likely to believe that it could even be a LL red squid cape that has simply faded through sunlight damage, especially being from Mexico, it isn't exactly the North pole over there.
That is probably the original origin of that kind of colour cape but of course once someone see's the prices go through the roof for a new variation they start popping up every week.
Probably a handful of damaged capes and a hell of a lot of tampered with capes.. (either way they don't do a lot for me!)