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

Yes, I think so.

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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.

The type found in older boxes is not shrouded.

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I'm seeing what looks like a brown, green/yellow and blue cluster (going into the blob) to the right.

Black, black/white, blue and brown.

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Then there's a white and what looks like a black (or is it burnt) wire to the left).

Green/yellow and a taped bare wire. (The two earth wires)

I apologize for the poor quality of the picture. (I used a digital video camera without flash.)

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

The latter.