That is not correct based on my experience - SLL Pink is preferred over the LL Red you mention.
Here's what the OM says we should be using:
Note that it specifies "Super Long Life Coolant" aka SLL Coolant.
SLL coolant is commonly known as "Factory Filled Pink Fluid" or simply Toyota Pink. Here's a pic:
I have only been able to find this SLL Pink in the pre-mixed 50:50 dilution.
The Toyota Red you mention is known as "Long Life Coolant" or LL Coolant, or Factory Red. Here's a pic:
The Long Life Toyota Red is NOT simply concentrated Super Long Life Toyota Pink - they are different.
It is important to use the Toyota Super Long Life Pink Coolant, not the older Long Life Red.
HTH
Edit to Add:
The Super Long Life Pink Coolant should be about $15/Gallon at your dealer:
00272-SLLC2 - Genuine Toyota SUPER LONG LIFE COOL