Mike,
Here is a link to a scanned original
1955 Chevrolet Truck Engineering Features pamphlet that I came across.
After a thorough quick read of the document and the pics inside, I couldn't see anything indicating a "3rd" factory hole or a corresponding control/device in that spot.
Also could not find anything related in this
'55.2 Truck Operators ManualI don't have access to a '55.2 or later Accessories Installation Manual, but maybe someone else does and can search that to see if we are missing something here???
Sorry I couldn't be more help.

Dan