TODAY is a Great Day to visit our Store and order the parts you need for your truck ! ! !
The orange pigtail is fused battery power. The blue extension was probably for a long-ago disconnected aftermarket accessory. The "connector" on the free end looks like one-half of an inline fuse holder.
Take a look at the wiring diagram from this forum at this link:http://www.73-87chevytrucks.com/techinfo/wiring_diagrams/73-76_instrument.jpgI was a little confused the way your Fuse Box looked for a 1978. The diagram is from a 73-76 and it appears will help you out. The 18P-139A shows two pink (P) wires connected and looks like it goes to tach. Do you have a tach on your truck? This forum has diagrams you can use to track down your wires. You can also access the repair manual for your model truck
Looks like an aftermarket power tap for your brake controller. I'd get rid of all of it including the scotch locks.