I would argue that the rear axles do NOT look identical.
Look at the bearing covers - the Western Colorado Power speeder has deep, cylindrical covers that may or may not be bolted (if so, it looks like 1:30, 4:30, 7:30, and 10:30 positions).
The unidentified speeder has shallow bearing covers with four retaining bolts in the 12:00, 3:00, 6:00, and 9:00 positions.
Other differences: the frame would have had to be stretched in the front and rear...and the needle beam is different.
I offer no conclusions, just observations.