I've got a m1000 automated tape dispenser and I've just recently found this sensor at the cutting blades.
As far as I know the wire from the cutting blades to the main board was only for automatically printing tape endlessly when switch is switched. And I doubt that the sensor's used for measuring the length of the tape. Because even though when the tape is empty it will continue cutting the air. Measurement of the tape is done by a hall sensor measuring the rpm of a motor. And so does the cutting blade itself. It's also measured with a hall sensor to check the blade position.
And how do I use this sensor?