The Vector Coil is a portion of the Exodar that crashed into western Bloodmyst Isle. The area is a source of power of the blood elf invaders in the Azuremyst Isle, and is fortified by saboteurs and agents of the Sunhawks - the minions of the Sun King, Kael'thas Sunstrider. An eredar named Sironas is the leader of the Sunhawks in Bloodmyst, and is harvesting power from the Vector Coil itself.
The sun gate is located to the south of the Vector Coil, and guarded by Sunhawk defenders and pyromancers.
SPECULATION:
The name suggests that it is not only the power core for the Exodar, but also possibly a kind of transmitter or a map of some sort. (A vector is a line, used to determine location)