Hey Scotch. Nope, not that one. I've been reading the manual and can't find a reference to it, and actually there is not much about rebuilding the calipers - or I am missing something again... (that ring can be seen in a caliper cross section drawing though - figure J33 page 222 chassis maintenance, or page 230 in the pdf. file)
The first photo - before rebuilding. I am pulling the dust seal away from the thin metal ring which sits in the caliper body. You can see it between the body and the piston (the yellowish one).
Here, both calipers with pistons installed. The one on the right has all in place. You can see the rubber dust seal around the piston. The seal is attached to the lip of the 'L' shaped metal ring (visible on the left - before pressing it in) which is pushed into the caliper.
As the piston moves the dust seal expands. Now, when the piston moved further, that metal ring also came out of the caliper along with the dust seal. Perhaps the piston doesn't travel far enough after having it on the wheel, but when I was taking the caliper apart that ring was quite stuck in there. I am not sure if that's because of dirt and being old, or should I apply some adhesive (a thin layer of sealant?) to keep it there? I'd imagine not, because it's right next to the piston. On the other hand, the top part of the piston stays always outside (under the dust seal).
When I pressed that ring it stayed firm. But like I said, eventually moved when moving the piston in and out.
I am having a hell of a time installing the dust seals anyway.. First pushed the ring itself and couldn't fit the seal into the created groove (the ring of course doesn't go all the way inside so the inner lip of the seal goes into the groove). Unsuccessful - very tricky to pull that slippery rubber around the lip. Pretty tight and the lip has sharp edges. Then inserted the ring into the seal and pushed them both into the caliper with fingers (carefully not to cut the rubber). All looked good until I started pulling the piston beyond 1/2 and inch.
A very long paragraph about what seems to be otherwise a really frigging small detail that should be a simple no-brainer... Kind of a weird design by Kawasaki if anyone asks me...