I don't believe so. I think ours is more down in the crack where the kid's bum would be? I think? I don't have it with me, otherwise I'd check, but I think it's more towards the FF lock offs.
Ah, here's a picture I had in Photobucket. It's definately not where yours is...
Honestly? I'd probably cut it off.
I mean, it's only mounted onto the car seat because it's required to be connected to the seat somehow. I know I disconnected the LATCH strap from my GN.
ETA: Here's a post from a hipmaman, a Canadian member, from the Naked Car Seat Thread. You can see that her orange strap (I'm just assuming this is her seat, I really have no idea) is in the same spot as mine. Perhaps it's just the TFP's?
They must have changed it sometime.