What is that glob of red on the right? I'm thinking it's a piece of terminal block wrapped in tape.

At least the European type of terminal block does not allow you to contact the current-carrying elements since they're all recessed and shrouded.

I'm seeing what looks like a brown, green/yellow and blue cluster (going into the blob) to the right. Then there's a white and what looks like a black (or is it burnt) wire to the left).

Are these individual conductors going into a pipe or is this all a single multi-conductor cable stapled to the wall?

It looks like whoever did this stole the box (or the wooden pattress if it was an all-in-one surface mount device) along with the device. That's if there was a wooden block to begin with. [Linked Image]

If this was an all-in-one S.M. device like this receptacle or a similar-styled switch:

[Linked Image from cornerhardware.com]

they are sometimes mounted on wooden blocks...so probably the person took that too. These are usually wired into zip-cord stapled to the walls (dangerous)