Yes, I have that french master MK2 Region 2 (Pal) version, which here in Italy is distributed by Paramount anyway because the Italian division of Paramount owns exclusive rights to the Twin Peaks market here.
First of all, unfortunately it's not the limited edition with that nice packaging shown on Dugpa. My best guess is that here it just came out as a regular DVD, which in terms of audio/picture quality is really good, but on the Extras side it makes you regret the earlier Cecchi Gori crappy crappy version with the 30 minutes interviews with the cast and other aficionados/experts.
I didn't trace any compression artifact that is relevant to the human eye, LOL!
It's true. The MK2 master has slightly different hues. It looks more vivid and orangey, which is in any case the proper look of the film if I'm not mistaken. Then I looked at the comparing page you linked me, in which btw I stumbled sometime in the past, and then I took a screencap of mine to compare the three to make sure my copy wasn't a third unknown origins master. The answer is: no, it's the MK2 master.
And, as someone else mentioned this, it must be the closest thing to what was shown in theatres at the time of its first release because in the Pink Room scene if you watch the film in English the music is louder and covers many of the actors' lines, so much that subtitles were superimposed (although you can get rid of them if you don't care). I never watched FWWM in a theatre, because I was just 7 or 8 when it came out, but I know that they put subtitles in that scene because the music was too loud.
"Did they scoff the whole damn Smörgåsbord?" (Audrey)
"Gimme a donut!" (Coop)