Torx stock would be much more expensive and difficult (impossible?) to manufacture inexpensively in that bent T-handle configuration. The inexpensive, malleable "allen" stock (sized to fit the T-15 socket) gives a nice, twisting, cushioning, over-torque protecting action to the tool. Rounded vs. sharp edges notwithstanding, it is a very elegant engineering solution as the replacement for a real T-15 tool.

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We still can't avoid the fact that using an allen tool on a torx screw is not a recognized "right" way. Sure it can work sometimes, sometimes it doesn't and can mangle the head. (I'd invite anybody to tackle some inverse torx bolts on a transmission bellhousing with conventional hex socket drivers.)

As for the manufactoring process, the tool change is minimal. You heat the end up (unless you want to do it cold forging) and smash the end in a die with a hydraulic ram. Deburr the end and move on to the next.

As for "retractor": If you're using it as something to hold something open, I'm garnering on "expander" or "wedge". An expander would be something similar to an outside snap ring, where you use a snap ring plier that can "expand" the snap ring until it can be removed.