Why does Directional Light Behavior have a (required) Location component?
No; it does not represent the location of any light(s) that use this behavior. It is the reference location for the direction of the light (as expressed the Reference Vector components of the Lobe Data). In most Spatial Reference Frames (SRFs), directions must refer to a location to account for the curvature of the earth. Even in linear space SRFs, localized directions may be important (See Example 1).