Saw this on Racing Beat's website, what the hell is it for and what does it do?

well.. uh.. OBVIOUSLY... its a little pellet that bypasses the eccentric drive shafts heat. so that it doesnt get hot.

thats what it does. it doesnt get hot.

I very well could be wrong, but I think in order to pass emissions, there has to be less oil flow on start up, and that monitors the flow better while the engine is warming up. I do know there is something that does that, and since this is under their "oil system" section. Someone please correct me if I'm wrong.

It reduces oil flow in the engine on cold starts for emissons purposes, NOT engine life purposes. Some engine builders remove this.