As far as i know it is to do with the engine mounts being rubber sleeved, I haven't got to that bit yet but it is to adjust the tension it is the engine hanger alignment link, there is a bolt just next to the drive sprocket the engine alignment bolt that has to be at the correct torque loading of 5 to 6 kg-m.

I've not seen anything like it before either, I suppose the alternative method would have been rigid mounting and all the vibration would then be transmitted to the frame, so this device probably as it is described aligns the engine up so there is no bias to one side or the other and give the correct position for the drive sprocket to the rear sprocket, correct positioning would minimise vibration transmission also.

Whether you can ditch it without getting problems I don't know but Honda don't usually waste their time devising things if there is no need.

The other guy's will no doubt give you chapter a verse.

D.