This is a CL30 thermistor manufactured by GE. It is an exact replacement for WPC# 5016-12978-00. We include some high-temperature PTFE sleeving in case your original sleeving needs replacing.
This thermistor sits in the power box on a WPC machine, in series with the hot (black) power line. Its role is to limit the rush of current into the machine when the machine is first turned on. This limiting helps reduce failures of the bridge rectifiers (WPC) or diodes (WPC-95). It works by having a high resistance when cold, which drops as the part warms up. After a few seconds, heat and resistance balance. The part wil run warm in normal operation.
These parts do deteriorate. The symptom is flipper resets when cold that stop once the machine has been on for 20 minutes or so, or do not happen on warmer days.
To see if your thermistor needs replacing, you can temporarily jumper the wires in the power box. If the resets go away, you need a new thermistor.
Don't confuse this with the varistor, which is normal red, smaller, and sits across the power line. The varistor has one leg to black and one leg to white..