I have two red-dot master keys (one as a backup, the other, I don't use because it's pretty worn). My new master key that came with the tumbler, didn't have a red dot. I can't really see any physical difference between the keys. The two valet keys I have appear to be identical to the master key, except that they lack the groove down the center.
When I compared the old keys (master and valet), the valet appears to have different ridges (it's also different from the new valet key). It's too much material difference to be wear (especially when noting that valet keys don't get used much). When I bought the new valet key, they tried it in the door to confirm that it matched the chassis (after confirming the VIN and my registration), so, I know it works... Interesting, huh?
I'd post pictures...but, that's not really a smart thing to do on the internet for obvious reasons