nah, it's not based, it's copied.
According to the readme:
"Skin Creator: Tyrannosaurus Titanus."
This is in infringement with the CEP 1.05 agreement:
You may NOT copy or reproduce all or any part of the package unless due credit is given and a link is provided to the CEP Team's home
(...)
You acknowledge the rights that the modification/creation and other related materials are the sole and exclusive property of the respective creator
I don't have anything against anyone, just keeping things clear. This skin is CEP-content copied and only then altered, and I don't see any link on any form giving credit to it, nor the true creator.
A recolour doesn't grant ownership of the skin pattern. I thought the agreement was plain simple on these matters.