[Badpuppy]

The regulator is inside the alternator, with two blades sticking out of it, accessible through the case. Pin 1 is the excite lead, pin 2 is the battery sense lead. The regulator is set internally for either 6 or 12 volts, a separate internal diode trio assembly determines the output polarity.

Your device is probably a simple transistor circuit that uses distributor point contact closure to switch battery to the excite pin. This allows the alternator to begin charging immediately after the engine is started.

If you suspect it is causing problems, you can just pull it off the alternator with no effect other than you will have to rev the engine up after starting to get it to "self-excite", after which it will operate normally.

I may be wrong, but I believe any alternator may be used "one wire" using this procedure. Kinda hard on a cold engine, though.

Edit: The part I described connects to the coil. Reviewing the OP I have to say I dunno what the heck you've got.