I don't recall the 448 version sounding like any of the demos that leaked, so it's definitely a remix.
If you go through the stems that leaked, which are of the original version from the 12" single, it contains some elements that appear in both album versions, although some tracks were treated with different effects...and clearly both album versions contain some additional "unique" tracks that are exclusive to that particular mix – like lead guitar parts, for example. So technically speaking, both album versions are remixes of the original 12" version with some new production added.
Despite the lack of proof, I agree that it's probably fair to assume that the 4:48 version is a remix (w/ additional production) by Jellybean. Unless anyone has more information to share, I think the answer to my question is that we don't actually know whether the shorter album version is an alternate remix (w/ additional production) by Jellybean or an alternate version produced by Reggie Lucas.
Maybe I should try asking Jellybean on social media to see if he's able to clear this up? Although...unless he's turned a new humble leaf in more recent years, I wouldn't put it past him to claim that he created both album versions even if he didn't. lol