that doesnt look original to me. it was likely custom made by someone looking to gain a 1-2* timing advance by moving(rotating) the flywheel slightly on the snout of crank. same idea as moving the flywheel pickup with the r&d timing advance piece.
I have a key that looks the same. Took it out and haven't used it. My assumption was a loose FW nearly shearing it in half. The key isn't there to hold it in place anyway but I like the assurance if the snout bolt ever did loosen up.
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