Is this a capacitor? What kind? (Sunpak flash/speedlight circuit for Nikon cameras)

UPDATE: I received one response (on the Strobist forum) saying this _is_ a capacitor, and I must desolder to measure capacitance.  I hope someone here can confirm this, and, if true, also help me figure out _what type_ and its likely _voltage rating_.
==========================

This circuit board is from a Sunpak NE-2D dedicated module for Nikon cameras.  Can anyone help me identify the rectangular component with blue sides?  

I can't find any markings on it. High res. pictures of the part and the board are linked below.  The capacitance tested around 47nF (still soldered in place).  I'm fairly new to electronics, so I don't know if I did the test right or even the right test.  If it is a capacitor, I'd like to know what type.

(FYI: A dedicated module is a removable foot that attaches to various Sunpak flash units. The foot/module connects to the hot shoe connector of specific cameras.  This particular module is dedicated to older Nikon SLR cameras. It allows compatible Sunpak flash units to provide Nikon-specific TTL flash functions (Fire/X-sync, Quench, Ready light, etc.). )

Any assistance greatly appreciated.

Picture of Is this a capacitor?  What kind?  (Sunpak flash/speedlight circuit for Nikon cameras)
6426701415_76d7c486e1.jpg