If you are referring to Toyota Long Life Coolant mixing with Super Long Life Coolant, then the answers are yes and yes to your questions.
The Long Life red coolant needs to be mixed with distilled water while the Super Long Life pink coolant is premixed. The prices of the two tend to be similar, hence the SLLC is effectively priced at 2x LLC but the service life is 50K miles vs. 30K miles.