I just put in my B&M shifter last weekend-I LOVE IT-!! Easy to install even if you aren't that mechanically inclined. Reverse lockout even works. One of my favorite mods!! As for that little orange circle thing. I noticed it when I pulled out my old shifter. Mine was like the seal on a soda bottle, but more heavy duty. Mine was broke too. No clue where it came from but it isn't affecting anything for me, so I don't think that is your problem.
99 SVT Green/Tan #44
TH-Fix, Aussie Pipe, PRO-M, SHO-Shop Y, Borla, and other Misc.
93 Tracer LTS
Eibach, K&N, Misc (now my winter beater)
email me: keith@thinkingcapdesign.com
My Car:
http://www.thinkingcapdesign.com/KeithsSVT/