Evening guys

We're moving on to transmission at school and a couple of the lads were tasked with removing an autobox from an old 3 Series we have in there (N. reg perhaps). They pulled it out in pretty quick time and I went over to inspect said box and I was like... hold on a second... I've seen that box before...

So. What's going on here? It's got GM stickers and GM cast in to the side. It fitted like a glove. I've heard that it's a BMW box in the Omega... but why all the GM gubbins?
Here's the castings and stickers if it helps...


Please forgive me fr the questions I'm going to ask as its been a while since I've done transmission... but:
1.) On the back of the box you can just make out a hexagonal thing connected to the output shaft. is this a balanced assembly to even out the output forces and not cause vibrations.... and whats its name
2.) What is the selector switch for? I'm assuming it sends a signal to the ECU to tell it what gear position youre in after moving the shifter?
3.) I've read one of the big problems with these boxes aside from the ATF level is the selector switch needing cleaning... where do you clean? you have to open it up?