Yeap I have one that very colour..just slightly better nik...
It's called a dowty aerofan. It has variable pitch blades, allowing the fan to increase the blade pitch when the engine revs higher. Dowty were specialists in the aircraft industry of the 60s and 70s...before they were swallowed up by Smiths Aerospace Group only a couple of years back.
The original box explains all the benifits:
- Increased MPG
- Faster engine warm up
- Quieter running
etc...
The last point i'm not so sure about - at high speed the fan doubles up as a lancaster bomber propellar - making an extremely deep tone hum in the engine bay. Aside form the proverbial rust that will eventually get to all of these -hard to come by - fans, they are very good and I'd recommend them to anyone...especially for that "classic" look to the engine bay.

This picci taken off ebay:

The fan was availible to 2 colours - metalic red, and standard mini fan yellow.