The cap on the top of the fence post isn't terribly critical. It is what prevents the fence from being completely removed from the tool. A couple of Australian members here deliberately removed theirs to allow them to raise the fence higher than normally permitted. However, it is almost impossible to remove them without breaking the little tab that holds them in place. So once they get removed, you can't put them back on later.
Because I have a spare fence for my Domino, I did remove these stops on the older fence just for my own education. That's how I know that they will likely break when you purposefully try to remove them. As for the increased fence height, it really isn't that big of a difference because the height clamp still needs to clamp on the post. So it adds very little for the risk.
Oh, why is it risky? Because if you pick up your Domino by the fence handle and the fence isn't locked, then the main body (motor) is going to drop on the floor. [scared]