Yes i can answer your question, well theres several radiation types in real life, all it is in freelancer is damage/sec while in a zone. If you mean the buoy, thats there to warn people.

Some of it is natural and is found in a number of systems. Other radiation is from a manmade disaster, such as the explosion of a jump gate research project in the Texas System.

Be careful of that radiation, since it eats up the hull of your ship! If you don't have a lot of nanobots, you ship will eventually explode.

Radition hazards appear when you go into some nebulas. These nebulas are called "Radiation Clouds" A small bioradioactive symbol appears, and you ships hull begins to decrease. Sometimes, you will get radiation in areas where a nebula is nowhere to be found, like in Tau-23.

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It makes about as much sense as a Japanese VCR Instruction Manual!

Radiation is the biological abnormality in your colon. It can be released through muscle tension of the rectum.