The above picture is the 15" Road Wheel (below) - which is the only color I've seen these (except for on '70 300/H - which were yellow/tan with pinstripes).
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Which is way different from the W23 14" Road Wheel) which looks like this:
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I wasn't aware the 14" Road Wheel (W23) was an option for M-body, but I guess it could be. It was an option for F-bodies.
The aluminum wheels on your car, is option W25.
I don't know what the option number is for the 15" Road Wheel is - but I do know a few did come on early M-bodies.
The 15" Road Wheels you do have - did not come from factory painted red - so someone did that after the fact. I like the red, though and it does give the car a nice touch.
There is also an aluminum version of the 15" Road Wheel - but I only saw them on '78-79 B-body 2-door cars.
BudW