This is a genuine Ringle Cam Twist seat post quick release. The difference between the Cam Twist and the TiStix is that the rod is made in Titanium in the TiStix skewers.
A standard Shimano quick relase is closed by just closing the lever, but the Ringle Cam Twist is closed by closing the lever and twisting the lever until lever is tight.
If that is bad design or an extra insurance against your qick release flipping open on the Kamikaze downhill I leave up to you to decide, I have to admit though I never heard of Shimano quick release levers flipping open by itself, but I heard of Ringle skewers breaking off in two pieces during practice runs.
If you had a CNC-shop back in 1991 together with an 8 color anodization setup you too could have become a millionaire in the MTB scene by drilling three silly holes in your quick release. Now you are not, but you can still be happy with the one and only genuine Ringle seatpost Cam Twist skewer. Sadly it is sold!