Q) Are store bought earthworm castings the same as what I'm producing?

A) They may not be exactly the same. The purchased castings will be from a different feedstock. More than likely, it will be a better feedstock than the food scraps you are feeding your worms. The purchased castings may be more pure. I am going to guess (and it is just a guess) that they have been processed more thoroughly by the worms. The purchased castings MAY have added fertilizers to increase the NPK values, or have other additives. Unless it says so on the package, there really isn't any way to know for sure.

Q) Does the name earthworm encompass redworms too?

A) In technical terms, no. But in broad terms, yes. Red worms don't live in the earth, but in the organic matter that collects on the surface, thus they are technically not earthworms. However, the term earthworm is usually used in a broader sense that includes red worms.

IMO- The earthworm castings you bought may or may not be as good as what your worms produce. The guy I bought my worms from (a pro), raises his worms in peat moss. Peat moss looks just like castings, so when he harvests worms (based on size and the calender) the castings are also collected and sold. These castings are a large part peat moss because worms don't eat peat moss, just the worm chow he feeds them. I don't use peat moss and I know that my VC is organic (no chemicals added).

Redworms are earthworms.
http://www.cmg.colostate.edu/gardennotes/218.pdf

I'm answering my own question here.. After harvesting a few loads of compost, what I bought last year is no way the same.

What I bought last year compared to what my worms produce looks like mulch. I got jipped.

Plants doing better with the homemade compost too. Last year what I bought and applied didn't seem to have much impact on the plants. Not so this year.