There is very little transparent. It is translucent blue around most of the perimeter, with the center being pretty much opaque. The red is only on the surface, and the translucent blue causes the dark outlines around the red ribbons. There is no color sinking into the blue, as far as I can tell.
Peltier made lots of transparent marbles with colors sinking into the transparent, so that would make submarines pretty common, right? And it's my understanding that they are quite unusual, like this Spiderman is.
I bought it several years ago, and if you got the id for it on this board, that would mean some of those Pelt people who were posting here back then, must've given it to you.