Nope, original Araldite (sets in about an hour and
cures fully in 8-24
hours, faster at higher temperatures) and Araldite Rapid (sets in 5-10
minutes, and cures in about an hour) are both clear-to-amber epoxy resins.
Both are mixed 50:50; both come as light amber resin and transparent
bluish hardener. The company does make other products, including Aerolite,
and some other epoxies, perhaps what you've seen is one of those.
Just looked it up. The grey stuff I'm talking about is Araldite 2014.
There's also Araldite 2013 which is grey in appearance.
Apparently there are are lots of Araldites. Araldite 2020 and 2026 are
clear. There are a few dozen other Araldites as well. I'm sure the stuff
you generically call Araldite has a type number as well. It's possible
the type varies depending upon how the epoxy is branded.
Eric