Hi, from the attached pic I'm pretty sure that the yellow arrow points to the hole (which should be a spigot but it snapped off...) that goes down to the sump along with the main hose. It's effectively an overflow for the main chamber where the oil from the heads runs.
Question is, what's the red one? I took the bike back to bits ages ago but am pretty sure there was nothing there. I think it's just an overflow to atoms?

