Actually, at least in North America, the cold start mechanism is usually on the back, and the solenoid in this picture on the front is usually part of the pump's emission control system... when energized it deactivates a slight timing advance under specific engine operating conditions.
As such, it can safely be safely disconnected with little or no noticeable impact. Some folks report their engine runs slightly better with it connected to +12... YMMV.
There are quite a few threads on the board discussing this sucker.... mostly as a curiosity, since even the Bosch Yellow Jacket books only refer to it in general terms.... of course I can't find a really good one at the moment... but if I do I'll post back.
BTW... I say "usually" twice in the first sentence because there are many different Bosch VE pump configurations worldwide. If you can find a lever and cable on the opposite side of the pump that pretty much has to be the cold start mechanism, making the front solenoid the one I describe above.