Bingo! That's exactly the one I have. The red piece pulls right out.
And when I reassemble mine, I use a bit of keg lube on the red part...I think it seems to work better now and I think the lube also keeps the liquid out of the crevices and makes it even easier to clean...
Edit: oh, and I've had the single same valve since I started brewing over 8 years ago...no issues with infections if you clean it out promptly and thoroughly (read: take it apart...) after use...