The hole you require is right at the front of the saddle (chuck end) low down and approx. half way across the bed. It is tapped 1/4" BSF and probably has a hex headed blanking set screw in it.
Some years ago I also bought a travelling steady for my S7 from Chronos at an exhibition and it was the most useless item that I ever purchased. The mounting hole was oversize at 10 mm diameter plus and it was drilled at about 10 degrees out of line.
. The horizontal "finger " was 2 mm below centre height. Both fingers were too sloppy in their grooves.
I should have returned it but like a fool I took the task of correcting it as a challenge, so I plugged the hole, re-machined a 1/4" clearance hole in the correct place ( so that the vertical finger was aligned with the lathe axis)and made a 2 mm thick spacer for the base. But I was not happy with the item as it represented my stupidity and folly buying cheap Far Eastern junk. I sold it cheaply to a fellow S7 owner after fully explaining its history. He was very happy with it. I kept my eye on eBay for while and managed to get a genuine Nottingham Myford steady that had been stored for years but not used for about the same price as the Chronos one.
I have to say that I have also had some good items from Chronos but the just seem to sell what ever they receive without any proper quality control.
The moral of the story for me was to always buy the best I can afford and not insult a superbly made Myford lathe by attaching junk to it!
Eric