It is one of the finest electronic, fully-automatic chain oilers you can buy. It is what allows Long Distance/Endurance riders to use a chain-drive bike, with all its inherent advantages over shaft. Dedicated sport-touring dudes can going touring 5000 miles across the continent, and never have to think about their chain other than cursory inspection.
The speedo pick-up wire is one of three wires in a three-prong green connector (IIRC) located on the left side of the engine bay. I tapped it when I installed the Speedohealer several months ago. I'll have to look up the specific wire color unless someone beats me to it.
Here's a couple Pro-Oiler shots, installed on my K8:
Twin-nozzle dispenser installed (this thing kicks ass!
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The Pro-Oiler pump and Control Module, those I tucked away inside the left side cowl recess behind the left passenger footpeg bracket:
Same shot, but with footpeg bracket (powder-coated matte black) installed:
'A' depicts Pro-Oiler power leads (blue = hot, white = ground). You can also follow the gentle loop of the oil line feed as oil gets pumped out of the pump outlet, up and back around, then on down to the twin-nozzle dispenser:
Lot's of different ways and methods to install your Pro-Oiler; this just happened to be the way I did it. And it's been working as advertised for 20,000 miles now without a hiccup...