the o2 up near the turbo isnt the o2, im pretty sure thats a mixture sensor. the o2 on the cat is the o2 (lol) but if you cut that off or it fails itll have a little warning light on the dash that looks kinda like grilled cheese on the oven. little wavy heat lights thingie.
edit here it is. bottom row, rhs:
how is the wastegate in this? doesnt have a BOV does it? im wondering if you are talking about what i call the BOP (official term, of course). in manuals if you have a BOV which isnt adjusted right, or a wastegate thats a bit sticky, when you gear down it allows too much air to get dumped without altering the mixtures to suit. it then drops a tonne of overley rich mixture into the exhaust and it BOP's when that fuel it hits the hot exhaust.
does that sound right? its REALLLLLLY common, especially with AM exhausts. sounds kinda annoying, but i dont think it damages anything. just means your plugs will foul quickly from dud mixtures. eaisest fix is to close off the BOV a bit so it doesnt dump as much or replace the stock wastegate on the top of the egnine (the alloy pipe running over the rocker cover)
also the earth strap goes to the heat shield cover on the cat. but being a series 1 r33 i would image those 10mm bolts holding the cover on are gone to heaven. rusted out or snapped off when they changed to aussie cat. you can rip that strap off. i normally do when i change cats on these its just attached to the top of the tailshaft tunnel. and dont would worry about the earthing straps too much. there are bazillions in the loom. its common for people to run earthing strap kits, but i have nfi why.