Hi All,
Thanks for the stimulating ideas here. I can clarify a little bit and tell you some more about the unit.
1. This unit was VERY tight and VERY difficult to remove. Obviously, I had no idea what it was when I started pulling/pushing it out. It took a lot of work and I was relieved that the barrel didn't crack.
2. The ink end of the plunger has a machined groove where an o-ring sits. You can see the black o-ring in the top pic. There is some grease on the o-ring to make a seal with the white plastic tube.
3. The white plastic tube is one inch long from the bottom of the threaded collar. It is a stiff plastic. There is about 1/4" at the threaded collar end that is smaller diameter to fit under the threaded collar.
4. As a test, I started to load this unit back into the original "51" barrel, but it was so very tight that I stopped, fearing that I'd crack the barrel. So I took a barrel that is already cracked (don't ask

) and loaded this fill unit in it and put in a collector, feed, hood etc.
5. The piston fills on the up stroke as you pull it up. When you push down, some big bubbles came out. I pushed it up and down about 4 times and the barrel was filled to the top of the fill tube attached to the feed. It actually works quite well that way. So Daniel's ideas above were verified. It works by suction of fluid through the fill tube. When you depress, the fluid has spilled over the fill tube into the barrel and air in the top of the barrel is now pushed out the fill tube.
6. Pulling this piston up is very difficult and stiff because of the tight fit of the o-ring in the white tube. Frankly I would not want to fill a pen this way. It takes so much effort to pull the plunger up that you might knock the ink bottle over. Maybe I exaggerate, but I would far prefer the stock fill unit.
7. The piston must be pushed down to fit the blind cap on--as Daniel K. said, like a lock down filler, but that's no problem.
As I tried to remove this unit from even the cracked barrel, it was again quite difficult because it's very tight. In my opinion, these barrels are just too precious to fool with this thing anymore. The one advantage it may have is the lack of diaphram, but the o-ring would have to be replaced eventually and removing this unit from a barrel that has shrunk and dried in 10-20 more years would probably ruin the barrel.
For now, I take it that Parker probably didn't make this fill unit way back when. If they had, the o-ring would probably be dried out.
Thanks for the thoughtful chat,
Steve