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That piece of gasket is probably nothing to worry about. There is a section of the right side cover gasket... at the back, near the sprocket. That doesn't seal anything, it just a section that spans between the threaded posts for the side cover screws. It just brakes off at the post and hangs there. You can actually brake it off, after the cover is installed.... just leaving the piece's between the cover and posts.
I have heard about that stuff on many forums. I'll probably give it a try eventually. But right now I've got 2 brand new large cans of the Bel Ray stuff to use up first. I have decided to keep a non O-ring chain on it, use good ones, maintain them, and replace as necessary. I only do local riding, so I don't have to worry about a chain wearing out in the middle of a trip. I bought this bike partly because I wanted something else to do with it besides just ride. I'm one of those who grew up maintaining bikes, and still enjoy it.