that is the circuit breaker.
Ive replaced a few of those. but instead
of using an original, I use an electronic one from
radio Shack. They work better and breaker the circuit faster
to keep your trains safe.
If you are not sure of your do it your self skills, get an electrician
to do it for you. When dealing with 120 volt household current,Transformers are not a do it your self project.