R1 and D1 will not limit the voltage to 20V. The resistor would need to be in series with the +24V supply rail for this to happen.
In any case, why do you want to limit the voltage to 20V if you are limiting the current through the resistors? The current limiting circuit will adjust the voltage across the resistors to the same value either way.
ZA and RA just limit the gate voltage to 5V (or not - I didn't look at the values, Steven is right there), in case you want to interface with a microcontroller according to the Instructable. The only effect this will have on the current limiting is setting an upper limit to the MOSFET turn on (which may be a good thing, but not necessary)
The circuit will limit the current through the LEDs just fine like this.
To show what happens with the circuit over a range of supply voltages, here is a quick circuit I created, without the unnecessary bits:
I set the current for around 20mA using 0.7V / 0.02A = 35Ω.
The X axis is V+ (the supply voltage) being swept from 10V to 30V. The green trace is the voltage across the 3 LEDs, and the blue trace is the current through them.
You can see how once the voltage rises high above the LEDs combined Vf, any further increase has very little effect on the voltage across them or current through them (less than 1mA variance over 20V)
It's a flexible connection of some kind. In this drawing, it is likely to represent a trailing or reeling cable (I will explain this a bit more below.)
Supporting my claim - from AS1102.3 Graphical symbols for electrotechnical documentation - Part 103: Conductors and connecting devices, we have:
Note AS1102 is based on IEC 617 Graphical symbols for diagrams.
Contrast the symbol for a jumper ("connecting link"), also from AS1102.3, and a fuse, from AS1102.7.
What's a trailing cable?
A trailing or reeling cable is used to power mobile equipment, i.e. a mobile drilling rig, or mobile substation.
In this application, I think the 'sub-sea' transformer is in some kind of waterproof container, connected to the surface supply by trailing cables. Flexibility is required for the transformer to be moved around, or to move with the water currents.
Note that trailing cables are a special breed, not like regular cables. See Olex catalogue for trailing and reeling cables. Generally these cables are much more flexible than normal cables, are designed to withstand cars running over them, etc. There are also special protection features to detect if the cable has been damaged - these aren't required for normal cables which spend most of their life living in a protected environment, i.e. conduits.
The numbers you have circled in yellow, are the BGA ball numbers on that IC (cut off on the right side of the schematic photo you included).
The numbers you have circled in red, are the page numbers in this schematic diagram where that "net" (circuit connection) continues. On yours, it looks like pages 23, 21, 12 & 4 all have components connected to the PP1V2_SDRAM "net" (in this case, it's a supply voltage of some kind).
You already have an answer from Dave for the third part of your question, regarding C59.