Silly me. I thought this would be a rather basic product. It turns out that some enterprising engineer decided that an electronic means of measuring temperature was the way to go. The result is an overly complex circuit board made in a large overseas factory, with lots of tin & lead solder runs, lots of individual parts and powered by a non-renewable button cell battery. Apparently, the environmental cost of engineering, assembling, packaging, marketing and shipping all this made sense to someone.
So, I'm returning it and searching for a purely mechanical thermostat. Not because it doesn't work. It's because I don't want to encourage the use of overly complex solutions for solving simple problems.