I have a 2 Cell7.4v Lipo Battery from FLYLIPO.co.uk that has 3 Wires on a JST Plug (Balance charge connector) and x2 other wires (heat shrink ends) taped back to the pack.
Do I need to connect all three pins or just the GND & 7.4?
I've been researching and playing with Lipo's for a few weeks now.
You should connect the GND and your 8v supply line to your project. (The voltage should stabilise at 7.4v).
As you've noted, the 3 pin JST is for connecting to a Balance Charger. The charger uses all three wires to determine the individual charge in each cell and adjust the charge rate accordingly. You should not connect this plug to your project at all.