I believe that the pictured valve is an aftermarket replacement for the orig OEM phenolic/plastic/metal water valve. The vac line comes from the "Heat" lever's valve, which is a variable vac bleed, if it's like my '70 Monaco with factory a/c. On my '70 Monaco, I suspect it is a bit different in cosmetics than on your '69 Fury, but I suspect the mode of operation is the same.
FWIW, the OEM water valve has a larger vac reservoir on it, compared to the longer-lasting aftermarket valves. What I noticed with the aftermarket valve is that at certain vac levels and slide lever positions, the valve on the instrument panel would buzz a bit. Change the slide lever slightly and it would go away, or it might get louder. Kind of amusing after I figured out what was going on!
The supply line from the intake manifold or power brake booster vac hose connection will pass through the cowl and into the passenger compartment, then over to the hvac control switch unit. Usually, if there is no vac to the main switch, fan output will be from the defroster vents and the floor heat vent, at the same time, possibly.
For testing purposes, you can run a small vac line directly from a manifold vac source to the water valve itself. IF you then get heat inside the car, you know the valve is working and then just need to diagnose why no vac to the water valve from inside the car.
Hope this might help,
CBODY67