When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
Looks like a coolant bleeder screw. Odd place for one, but not necessarily the source of your overheating. First bleed the system carefully to get the air out (follow Billman's thread). If you see evidence of it leaking, or if the problem keeps happening even after a successful bleed, then you might just go ahead and replace the whole hose with OEM or equivalent.
Overheating and no heat is a major sign of air in the system. Probably lots of it. Several photo essays here on how to bleed it. Start with the front of the car on jackstands or ramps.
Looks like it's a bleeder or diversion of some type in that hose. Was the car ever supercharged? Hose is aftermarket and no reason for it I'm aware of. Pair of OEM hoses, which will last the life of the car, is under $100 maybe closer to $80. If the antifreeze is suspect or unknown or more than a couple years old I'd replace it with proper Honda Type 2. Takes a little under 2 gallons. I'd personally do it right and install new OEM hoses (the questionable top hose for sure), fill and bleed the system with fresh OEM coolant/antifreeze.
Run the car to temperature -- both fans run -- before bleeding.
Because of the pressure the rubber cap over the rear bleed needs to be held in place with a hose clamp.
The front bleed is on the left side of the engine just below the valve cover and may be hidden behind some hoses.