It does appear to be a Mesoheros festae.
The common name red terror is basically interchangeable with Mayaheros uropthalmus, and may have been applied to uropthalmus first, because I believe (but not sure) that they (uropthalmus) entered the aquarium hobby and were dubbed "red terror" first.
Festae are average growers, although I have found the more water changes you do, the faster they grow. Being from the rivers west of the Andes they are under constant water changes in nature, from snow melt in the Andes, so may prefer mid 70s water temps. These rivers are also moderately alkaline, so no worries about or need to provide Amazonian type softness.
Males can get quite large 15" is not uncommon for well taken care of individuals, females 1/3 smaller.
Here is a male I had, he was maybe 13" at the time of the photo.

below, a couple of his females from his harem.
