The pieces of tube they have taken out from Ice Blast in the pictures a few pages back, was the internal pressure tube that carried the air pressure and piston to launch the vehicle up and down. It works both ways on these things, or can do, depending on the setting. In order to operate properly, the internals of this tube see rapid changes of air pressure in order to achieve the launch of the gondola.
If you were refurbishing the ride, the one thing you would replace is this, especially after 26 years of sea air, which can clearly be seen as taking it's toll on the metal. Given the fact that this is a pressure vessel, it needs to be in good condition and as free of rust as possible, something which this is not.
Given this, I am certain this is being refurbished, they would just cut the whole structure up if they were removing it I would imagine, they have not done that, they have carefully removed the one item that would need replacing while leaving the main tower intact - you would replace this tube, especially if it was planned to run it at full launch power again, which would require higher pressures in this tube. Given the photos of this tube, it is no surprise it did not run at full power for a number of years before it closed, a high possibility this tube could have ruptured. But in any case, after so many years, it would be responsible engineering practices to replace this tube, given it's condition, age and the critical role it plays in the rides safe operation, this tube also acts as a breaking mechanism for the gondola - you do not want it rupturing mid ride cycle because it has become so rusty and corroded.
Judging by the state of it in the photos a few pages back, I would not trust that tube to hold the pressure of a balloon, let alone the pressure these things need to operate properly.