Yep, that's correct. all the wires to the left flipper opto board have been cut or spliced for some reason and the board has been replaced by an old leaf switch.Probably where a computer was connected in to monitor something. The pins correspond to RX,DTR,DSR and CTS. If you dont want it there I would remove it and rejoin the wires to each other.
Orange with blue stripe is a flipper is it not ? (assuming sttng)