There's more than just Cast Iron and Aluminum in a modern Engine, Toyota has a different additive package than Honda and BMW.
I had an in depth discussion with representatives from Valvoline on this and they spent a considerable amount of energy and time in R&D to get their Asian Blend Coolant to match Toyota's specifications. This is not the 1980's where anything goes, fluids these days are far more complex and far more tested than before.
As I said, I am only aware of Valvoline's Product because I saw their documentation, testing, and spoke with factory representatives on a very technical level. I have kept an eye out for different brands, but honestly; the Toyota stuff isn't that expensive and lasts a good 80k or so if not exposed to oxygen regularly (part of a larger discussion of modern coolants and cooling systems that I needn't get into right now), if you find the company Toyota buys their coolant from, please let us know; it can't hurt.
This is not just a "Buy Toyota Stuff" its my personal recommendation based on interactions with multiple shops, research, fellow technicians, and non-Toyota courses I have taken on the matter. There is no "Universal" coolant in modern cars, just as there is not "Universal ATF" and "All 5W-30 Oils are the same."
Additional Information:
Toyota does not use Silicates in their coolant because they "drop" out of coolant after a long period of time, plate the inside of aluminum components, and often create a "sand" that can erode internal components (stamped water pump impellers being a popular choice for many brands). There is also additional chemicals to prevent cavitation, electrolysis and premature corrosion of gasket/non-ferrous materials, these are often in varying proportions to other manufacturers due to differences in material choice and design.
Popular Mechanics did a brief article in '99 (yes, 1999) about why you need to be careful with what coolants you pick,
Choosing The Right Coolant - Popular Mechanics
I also am looking for my CTi Coursebook and some other information I have around here in regards to coolants. But while you're correct that Toyota buys from another company, that company makes the fluid specifically for them, while many "Universal" Coolants like Prestone try to cover EVERY make and model (much like how some "Universal ATF claims it works in all transmissions including those Nissan ones that use a mineral based ATF) and thus will not work effectively. Sometimes damage can be seen in as little as 10,000 miles, sometimes 100,000+ miles; maybe it doesn't matter to people who won't keep their car long, but some of us intend to rebuild these engines when they give out and keep trucking to 500,000+miles in our 4Runners.