I found out what the mistery hole was!
It's a Micro SD socket!!!
check this out:
http://emea.apacer.com/en/products/A...teno_AU524.htm
I bet the guys at Zipy don't even know about this, as it isn't mentioned anywhere in the box, or the manual. LOL!
PS - thanks to pawgal for the link in his post (the Bellwood one i listed in my previous post)