Sharpstick, If you haven't used or built one of these things before the instructions suck - mostly because they never define terms. For others who have used similar devices it probably seems very familiar, but as someone who has never used one before I also found it confusing. They're weirdly written, but they're not incorrect.
Once you figure it out it's exceedingly simple to use.
Here's how I make sense of it:
There are four things you can change:
F1 Temperature Set Value - This is your target, the temperature you'd like the controller to retain, it can range from -50C to 99C, it defaults at 10C
F2 Difference set value - This is how much wiggle room you'll allow before you want the controller to start heating or cooling your environment, it can range from .3C to 10C, it defaults at .5C
F3 Compressor delay - This is how much time you'll force the controller to delay in between cooling cycles to protect against it wearing out your refrigerator or freezer's compressor. If you turn a refrigerator off and on every 15 seconds you run the risk of killing it. This setting protects against that. The setting can range from 1-10 minutes, it defaults at 3 minutes
F4 Temperature Calibration Value - If you think the controller is wrong about the current temperature (presumably because you have another thermometer that you trust that's giving you a different reading) you can make corrections to the controller's measurements to calibrate it. Corrections can range from -10C to plus 10C, defaults at 0C
The default display is the current temperature that the probe is reading.
If the heat light is on it's heating the environment
If the cooling light is on it's cooling the environment
If the cooling light is blinking it's waiting out the compressor delay before cooling
You can press the "S" button to cycle through and select the setting you want to change. When you get to the setting you'd like to manipulate you can hold down the "S" button and the up or down key simultaneously to change that setting. When you reach your desired number release the two buttons and press the power button to save your change. If you don't press the power button within ten seconds your change will be lost and you'll have to start over. So make sure you save each setting after you set it, you can't set all four and save once.
Capice?