That's a relay coil. This "computer" counts the RPMs and is supposed to open a solenoid valve mounted on the intake manifold between the two carburetors, when the RPMs are above 1800. The valve allows manifold vacuum to open a diaphram valve. This provides a richer mixture during deceleration to prevent mis-firing.
Sounds like the engineers got a little carried away with their design (I probably shouldn't talk, since I find myself doing the same thing at times). Remember KISS (Keep It Simple Stupid, right?)
Anyhow, just more things that can fail.