"Fireproof" is a little ambiguous (as, for that matter, is "pink insulation.").
I believe that Owens-Corning holds a trademark on the color pink for insulating materials, but they make several types in that color.
Fiberglas insulation (the pink fluffy stuff) is non-flammable ... the paper backing can burn, but the pink part is, basically, glass, and just melts without burning. It's not "fireproof" because, as mentioned, it WILL melt if the temperature gets high enough.
The pink foam sheets are polystyrene (basically, styrofoam) and are nowhere near fireproof in any sense.
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