1) Try it is again?... mine works fine.
2) Have them too... don't know what they are for...
3) CW to 0 turns off the TC
CCW alll they way - max TC
4) Yes, it is PITA so I took them off and never put it back on again.
Sorry my answers to your questions don't really answer them and I've been 240 owner for 3 months...
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2008 Exige S240 - Aspen White, Touring pack, LSD, Titanium Arqray Single Tip Exhaust, Von Hep rear panel eliminator, and more to come
2004 ChilliRed Mini Cooper