ok, so to summarise there are 4 things,
1. what's limiting the current going through the circuits for the led and D2
2. Whats the zener doing?
3. what is r1 doing
4. what's d2 doing.
so, answering point 1 - well the bridge can't be limiting current, as that is made of diodes. the only other thing is the two resistors R2 and R3, in the ac line. So R2 and R3 limit the current going thru the circuit!
2, still no closer to this. If the two resistors in the ac side are handling current, then the zener can't be current related. (although i know they let large currents thru. How ever when i type zener diode into google, a lot of the returns are regarding voltage regulation. Further on this, the voltage in the circuit must be controlled, so i am thinking it is still involved in supply to the coupler. i think its working in conjuction with r1.
3?
4. the bridge rectifier is made up of diodes. diodes of this type let voltage / current flow one way, and not the other way (ideally). I know in reality there is a little bit of leakage. I also know that if enough current / voltage is applied in the wrong direction, the diode will start to conduct, and damage it. So if this was to happen, current could flow along the negative line, so what would happen then? Current would travel thru r1, some thru d2, as that's the direction it will work in, but the coupler will become open circuit. if r1 and d2 were not there, then the coupler would be damaged, as the same situation would apply as what happened to the rectifier diodes, the current would become so high the led would start to conduct.
Going the right way, r1 is still in use, the zenner is being used, but d2 (assuming the current / voltage is ok) is not being used.