I had a hard time telling which was which in the first set of photos, but this helps a lot, thank you! Yes, he does appear to be hypomelanistic. I can't see his nails clearly but if they are totally clear without any dark color then he is almost certainly homozygous hypo. I'd be willing to bet money that he's at least het for hypo. The breeder who I am considering buying my next one from breeds babies which look like that; I think she calls them Hypo Autumn Reds.
By the way, be VERY careful with the older dragon and the younger one! They NEED to have their own separate cages if they don't already, and I would not allow them to socialize at all honestly as there is a VERY large danger that the larger one will decide to view the smaller one as food. Even if they seem to get along fine at first, that can change at any moment. It could be badly hurt or killed before you even have a chance to intervene.
I hate to have to say this but I don't want you to lose your baby.
If both are female, when they are close to the same size, out-of-cage socialization might be safely possible, but otherwise I can't recommend risking it.