Yes. Tu-Tones and Tri-Tones refer to exterior paint. Used mostly for 50s cars.
“Triple Black” or “Black on Black on Black” came along later. Maybe the 70s.
FWIW
This subject suggests another reason manufacturers went with vinyl tops. Vinyl tops were usually installed on a side line, after paint, before trim shop.
TuTone option was just ending when I got in the paint finishing business. The conveyors and plant space required to pull a car out, mask it, paint, then bake it again were considerable. At the time this required an entire additional paint line. This meant a 200’ +/- paint booth and 400’ +/- oven. The Big Three had different philosophies how to do this. One went with a separate Tu-Tone line while the other two re-routed the vehicle back through one of the color booths.
A vinyl top offered a second color or Tu-Tone by just pulling it off line, gluing the top on, then put it back in line. Both faster and cheaper.