|"New Color Optical Lens" on a variant of the Time Magazine Camera|
image by andrecarol (Image rights)
The phrase Optical Lens (or variants of this, such as "Color Optical Lens"), despite a grandly scientific sound, is most often seen on low-quality cameras with rudimentary, one-element lenses. It is strongly suggestive that the camera is a trashcam, or perhaps might be considered a toy camera. For example, the phrase appears on the lens barrel of the Holga. The notorious "Olympia" camera, and the Time Magazine Camera (under their many guises) often display the phrase as part of their deceptive attempts to resemble a better grade of equipment.
By definition, any refractive lens obeys the rules of optics. Thus the phrase is without meaningful content.