That makes the most sense to me. Note the internal wire cutter blade has been ground off from the lever/handle, I guess to make space for the unusual spring. The pin of through the external metal band prevents the handle from shifing out of the dynamic jaw gear, so the jaw cannot be swapped out. Those are intentional mods for some functional purpose. The modified jaws (the permanant one, too) are angled, and definitely specialized, like for pulling a rimmed cylinder, but what? The decal probably held the best clue to an answer.
With the static jaw similarly modified, these are special purpose, begging the question: what is “C.E. GEN USE”
