It can be two things: if it is large enough to place your finger in, it's a finger choil. Otherwise it is a sharpening notch or choil, normally placed there so you do not accidentally sharpen the kick or ricasso.
He's talking about a sharpening choil. It is to ease sharpening and provide a hard termination of the edge. Some don't like it, some do. I think it looks nice and like the ease of sharpening
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