Boards look to be clean.
Pretty sure that loose connection is for the knocker.
Hey out of curiosity, when does this cable get plugged in?
Does that mean I have a knocker already?
Knocker assembly should be up in the top left hand side of the backbox.
Are you getting the 'crack' of the knocker with a free game or match? It was disconnected on many machines..
Take a photo of it if you're unsure. Generally there is a two pin molex connector and two wires going to the knocker.