Electrical componant question. I dont know what this is

We had a few of these at work. Every one that went in for service they would tell us, "It's the board." So rather than just give them a grand we would bring 'em back and try to solve the issue ourselves. Turned out we never really had a bad board on even one of 'em!
There are a lot of connectors inside this machine. These can easily become a problem. Pull each one off individually and reseat them while looking for loose wires in the connectors. Linclon has been known to over crimp the wire and eventually they break off inside the black plastic connector housing.

It could be a torch issue. If crud gets between the nozzle and electrode it can give an error light. Also it is possible that the wires in the torch lead are broken or the switch that makes sure your consumables are in place is bad.

There is also a piece of tubing about three inches long from the solenoid valve to the torch connector. See if it has started to crack.

It may, in fact, be the board but we found an issue with consumables to be the most common culprit, wiring connectors second and torch issues third.

Good luck!