Look at the other side to match. If that is the same then it's a physical wire protection rather than a signal protection. Normally it would terminate at a tinned pin on the connector and not one of the gold connectors. That is the ground between the sensor and the ECU (a black wire in the O2 wires). The shield wire is stainless so it's tough to solder a wire to it. A crimp butt connector is used to splice the shielding wire to a small diameter stainless wire then down to the connector.

 

The connector has 4 wires and pins so I don't think it goes there. here is a picture of the uninsulated wire going to nowhere and the connector.

 

Ignore it, it's not significant enough to warrant this much attention! Nothing is wrong with what you found. I've looked over the wiring diagram and the shielding is not terminated.

Wrap it up and replace the two upper O2 sensors.

 

[QUOTE=ihscouts;486503]Ignore it, it's not significant enough to warrant this much attention! Nothing is wrong with what you found. I've looked over the wiring diagram and the shielding is not terminated.

Wrap it up and replace the two upper O2 sensors.[/QUOTE. If the 02 sensor itself is the problem thats a easy fix. Much better than dealing with the wires. But I don't know why you would say it's not significant enough to warrant this much attention! 02 sensor codes have to be at the top of the list of glitches with vehicles. And the amount of problems that can cause a bad o2 sensor code.