Top of the mornin to ya'll
what does this preload adjuster actually do?
The adjuster is to compress the spring when you carry more load on the bike, to stiffen up the suspension, to bring the back of the bike back up so your shock doesn't bottom down under the load when hitting bumps.
what is connected to the other end of the pipe?
This vid will show you more than you want to know about the shock. But if you go straight to 47:40, you'll see the remote preloader in action and how it moves the piston that compresses the spring.
On the bike I bought, the guy said something about changing the bike spring thing just behind this and I think said this adjuster was disconnected now. Not sure at all about this whole area, what going on around there.
The easy way to verify if disconnected or not is to crank the preload all the way in. If there is no resistance at all, it is "disconnected", or empty of oil.
You can also remove the bike side cover and verify if the piston, as you can see on the vid, is moving or not when cranking your adjuster.
When the preloader is connected and full, the piston should move about 9.7 mm.
Not unusual to change the spring, the OEM is on the light/soft side. But it is still better to be able to adjust the preload for carrying more weight, even with a stiffer spring.
The wire diameter of the OEM spring is about 13.15 mm (and is black). If the dia is larger than that, you have an aftermarket spring.
You may want to take a quick sag measurement with your current unadjusted preload to see how close you are from a sound ride height setting.,