That looks very much like the connection that goes to the brake servo vacuum ( the big thicj back pipe you can see to the left of your red circle, coming out of the brake servo. If you follow it from the brake servo you will soon come across a connector and there are two pipe connectors on it.
The pipe in the red circle is connected to the brake servo vacuum (this connection is just out of shot).
I've had a look at the schematic TheBoy mentioned. As the HBV seems to be working (I get both hot and cold air depending on temperature set) I'm guessing it is the connection to the front vac reservoir which is missing. I'm going to take a look at this when there is some daylight! Assuming it is the connection which is missing what effect am I going to see when I connect it back up again?
What confuses me, is why has it been removed in the first place - it isn't something I disconnected when doing the HBV and there is no pipe near it to push in.