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Yea, it seems like a "fake" abs sensor. Almost like a bleeder valve that uses high pressure to bleed some of the fluid out of the line so you cant lockup the brakes.
It could also be a sort of manual "line lock" to eliminate rear brake pressure so burnout are easier. I would personally take it off if you dont know what it does. Try and get any information, names, part number, logo, model, anything off of the thing and research of what it does or try and locate the manufacturer and contact them. But before that, I would just take it off for safety measures.
 
1 - 6 of 6 Posts