Since the PuristS Red was a limited edition of 178 pieces, it is not commercially viable to make a small batch just for PuristS.
Strictly speaking, they could produce Strap System II in any colour (including Red) because the exclusivity applied to the original red strap with machined buckle.
As to the length: I have a bigger than average wrist and am only at hole #4 setting. There are 3 more hole settings smaller that should cover 95% of the adult population. Any wrist that is smaller than setting #1 must be too small to wear this watch from an aesthetic and medical viewpoint.
The grippy nature of medical silicone rubber allows for the 'fine' adjustment between hole settings.
Regards,
MTF