Yes, I see that too
That is the coolant feed pipe to the TB to heat it at start up. If you remove it and feed it back the outlet pipe back to the block there should be no issues as this is an unneccassary require and good for very cold freezing temps. But to really benefit from this an insulation gasket like the one from Hondata does help a lot and keep intake temps lower then normal hence better power about 1-3% depending on the temps according to Hondata.
As for the bubbles that is leak in the system and from what I see you do have your heater pipes which look bit old and need replacing. At this time would be good time to replace all coolant pipes and along with the thermostat, as these things with time deteriorate and get block with sludge no matter how much you take care of them.
Do also check the radiator drain valve as those do expand with time and leak.