Down through the annals of time people have paid more for tested overclocked CPUs. I bought, tested, and sold a bunch overclocked 366s back in the day. He is doing nothing wrong except for the Redline name stuff. He has got over 600 positive reviews with only one neutral, so obviously he must be testing well.
Not that I think it is right to do but is it really a crime to make up a name for a product brand? My local toyota dealer sells a Tacoma sport that they call "blackout edition" which is just a slightly modified Tacoma with blacked outed lights, seats, exhaust ect.. but still just a Tacoma.
When I questioned his cpu he emailed me asking for my number so his lawers could contact me lol