Atlantic Firearms sent out some of these fakelites to a handful of people in exchange for our unbiased opinions.
In the first 2 reviews I saw, the people loaded the mags and dropped them from around 3-4ft. The mags broke and were no longer usable. Does not bode well for any hard use or really any sort of running and gunning or 3gun where mags are regularly slammed around.
After seeing those first two, I chose not to drop mine. I did do some simi-destructive testing on it. Burnt it and cut it a bit. To me, it seems like a thermoset plastic with a small amount of glass fiber reinforcement. I've been using the mag in my regular rotation of mags, but not dropping it or tossing it around. It goes to the range. It gets shot. It goes in the mag bag and goes home. And it gets reloaded. Rinse and repeat. Several hundred rounds and its still running fine. It hasn't misfed or broken yet.
As to the color, its a really bright halloween orange. It is not really close to the color of my real bakelite steff. Compared to Izzy, Tula, and polish bakelite, the korean fakelite looks faker than a kardashian. All its missing is some black triangles for eyes and a black semicircle with some teeth for a smile and it'll be a jack-o-lantern. Based on the suggested price of like $20+, and how fragile the mags have been, and the fact that it doesn't really look that great, i don't think the juice is worth the squeeze. Even tapco and promag are sturdier than the fakelite and they cost 1/3 the price. Its only real appeal would be mimicking a bakelite mag for instagram pictures, but it doesnt look real, so whats the point.