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I assume they used TUV because this was developed in Europe.

... or because (I think) there's a Chinese branch of TUV Rheinland...

I definitely don't like that beast! If it were a single with two completely sealed USB ports in place of one of the two faceplate openings I'd say ok, but with a mostly open circuit board and exposed USB shield inside the box? Sounds like a 120/5V crossover from faulty isolation (think nicked wire or ancient crumbling rubber) waiting to happen.