I believe the tool that is red is used for crimping on those old style tips without the use of glue .
May be called a crimper but not 100% sure of that .
I have a set that looks like pliers sort of like that with a dial on how deep the crimp is.
I’ll try to find it and snap pictures so all can see .
Neat vintage finds there .
I like to see this sort of stuff and how it was used back then.
Thanks for sharing and I’ll search for answers .
Keefers