Well... d'oh. Misread the schematic, as has happened before.The only (partial) schematic I have seen appeared in post #7. It shows the 555 connected as a free-running astable oscillator with its output on pin 3 connected to the active-low IRQ input on pin 4 of the 6802. What does a Valid Memory Address have to do with the 555?
The 555 is indeed astable, and every time its output goes low, the instruction sequence:
clr 0x2E
rti
... occurs.
Make of that what you can. Perhaps there is a peripheral at that address, although it is also in the on-board SRAM.