Yes they're the same songs, but I'm not sure about the chronology, I contacted Doug Cunningham of the Red Dogs back in Aug 2024 and stayed in contact with him until the comp release at the end of Sept 2025 and he never mentioned a 45 was being made in the meantime.
My guess is that Mark heard the tracks on Forgotten Things and contacted the Red Dogs to make a 45 of it in December, but I could be wrong. The unreleased tracks are known on the Audio House site for 15+ years so the time seems kind of close but maybe it's just a coincidence. Maybe he also means unreleased until now on single. I don't know.
Speaking of it, there are plenty of other unreleased tracks at Audio House and it would be awesome to see them out, their demented version of California Sun recorded in 1966 along with Open Your Box is fantastic!
The link for those who don't have it:
http://audiohouse.cscnt.net/the_red_dogs.htm
And yes Caped Crusader always did a fantastic job, still worth grabbing imo