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degas bottle is like the over flow coolant bottle on a gas motor, except on diesels it is part of the cooling system.
Not to nitpick, but the fact that it's a diesel has absolutely nothing to do with whether or not it's plumbed as part of the cooling system. My 2000 Ford Contour as well as my 2011 Mustang have degas bottles. As did my '05 Mustang and '07 F150. Ford has been using them for quite awhile in all of their vehicles, and many other manufacturers are also using them instead of reservoirs.
And as far as I can tell it's called a degas bottle because gas is constantly bled from the system at this point. Not sure how gas would get in there or anything, but this is where it would come out.
At less than 20$ bucks the cap is worth trying, that was one of the things I forgot to mention in my other thread. Didn't work for me! I have heard that the egr cooler can flash boil on certain occasions and all conditions being met. They ended up removing the horizontal cooler and tested it under water with air pressure took about 15 min. to leak. (pinhole) So with that replaced all was supposed to be good, as always with me it didn't solve my issue. Hopefully yours will be a onetime deal and not repetitive like mine.
Thanks for your insight on the other thread Sincerely, The wet one! (c1ford)