It is for your flasher. If you don't have the original (says signal stat or something on it, rectangular box) two prong unit you can go get a cheapie round 554 or the like from any parts store. You can use heavier duty, its your choice. Mind as well go electronic. Additionally, as I'm sure the choices will lead to this, you can use a three prong flasher, just use the extra green ground on your harness that had you scratching your head. The third prong is a dedicated ground, that is all
Go to the manual FAQ and its a link from a link, but the full cb750 is useful, its like 800 pgs
Go on oldmanhonda.com, great resource
Search color wiring diagram on the left search bar, you will have good options