Its a resonator alright.....It's used to either tune the intake charge, or to mellow out the intake noise.
As the valves on the engine open and close the incoming air will "slam" against the closed intake valve, and then when the valve opens, the air gets sucked back in. This repeated stop and go action creates a frequency within the intake tract. By adding the resonator they can "tune" the frequency for a more efficient burn at certain rpms. I used to have the website with all of the technical garb but have since lost it....I only know this because there was a big deal about it on another forum I'm part of.
hope that helps..... and removing it won't make a noticable decreace or increase in performance.