The small pin is called a "cap rake", and keeps the cap from being pulled, or falling, off the tube and jamming up the action. After the cylinder is cocked, the cap is free to fall harmlessly to the side. The rake apparently does the job, and is the preferred fix (rather than eliminating the safety pin notch in the hammer).
The maneuver traditionally used to drop the caps away from the gun's innards, was to continue the upsweep of the barrel (after the shot) as you re-cocked the hammer, allowing any cap fragment to fall backwards, rather than down into the opening in front of the hammer. No real loss of time, especially compared to having the gun tied up by a cap fragment in the works.
Are there any historically contemporary accounts of men being endangered or killed because their Colt jammed up?
This may be more of a "problem" today, on the range, than it was back then. :idunno:
The maneuver traditionally used to drop the caps away from the gun's innards, was to continue the upsweep of the barrel (after the shot) as you re-cocked the hammer, allowing any cap fragment to fall backwards, rather than down into the opening in front of the hammer. No real loss of time, especially compared to having the gun tied up by a cap fragment in the works.
Are there any historically contemporary accounts of men being endangered or killed because their Colt jammed up?
This may be more of a "problem" today, on the range, than it was back then. :idunno: