After seeing how the device is wired in Alan's photo, I'm not so sure it really is a bypass cap. The layout just doesn't look right. The wiring is pretty large, both the same color, and at a distance from the connector. That doesn't match a typical wiring of a bypass cap. But having said that, the shape, color, lead layout, and marking layout are typical of a small value capacitor used for bypassing.
Can you read any of the markings?
TTFN,
Dennis