Yes, the wavelength is for the collection. Most of what I've seen being sold as 650nm are actually these diodes. Bought an older 650nm off of Blackwolf that came from Sci-first and the color and output mimics these diodes.
On a side note, I just built another one today into a pen host and it runs at 365mW with a G and 3.7V LiFePO4 10440 using a Blitzlinear driver. It might be able to handle a regular 10440 4.2V at well over 400mW but it will more likely blow.
Laserlands on Ebay raised the price to 5 for 25 now. Still a good deal on them but if you live in the states you can buy one much quicker for a bit more from:
650nm 400mW Burning Red Laser Diode LPC 826 Twin US Seller | eBay
He also sells the 150mW blu-ray diodes. A good setting is about 150mA and I wouldn't push past 160 or it will blow. He only sells them already pressed in a steel module which I don't like. He used to sell them cheap as diode only. You can always ask if he has any not pressed. 150mW of 405nm burns really well that's for sure.
I have maybe 5 of the 150mW 405nm builds and probably 20 826 builds. Hey, why not when you can build them so inexpensively. If I didn't already mention it laserlands said once these are sold supposedly they are not going to be manufactured anymore so buy while you can.
I think the 1W+ 650nm builds are more likely to be c-mount diodes. I did find a couple c-mount sinks on Ebay and ordered one as I have a 3W IR (think it's 808nm) diode I bought from Crazyspaz while he was selling most of his stuff.
I'm likely going to start a thread with all the deals I know of from over the years as there's so many new members from the past year. Some great stuff to be had for building cheap that people should know about.