City,
Don't be bashful, everybody wonders those things at some time~ /forums/images/graemlins/grin.gif.
As noted the chains aid in stabilizing the 3pt implement. Sometimes called sway chain. They limit the side to side movement. There is also a chain that can be used to limit the down motion of an implement.
A "spool" is jargon for a hydraulic control, it probably has to do with the configuration of the rod inside that has a machined step in it. When the rod is moved, the step goes either up or down to open a port to allow fluid flow. Moving up makes fluid go one way, moving down the other way. It is probably a control for a rear mounted implement.
(on edit: - I checked the web site, it is for power to the rear of the tractor. Having 1 is useful, having 3 is ideal... If you look over the backhoe page, you can see that they power the hoe using that spool.)
Implements are either ground driven, PTO driven, have a separate engine that provides power or use tractor hydraulic power. Larger tillage equipment uses hydraulic power to actuate cylinders to fold itself up so they fit on the roadway.
Happy farming,
jb