After opening up the controller case, I am almost 100% certain that the problem is a fried controller.
The following pictures show a resistor next to the 3-Terminal Adjustable Regulator (LM317T), which has clearly overheated.
The resistor is fairly charred in the middle, but I can just make out it's colour coding:
Gold Black Black Blue
Maybe the two middle ones are black coz it's burnt
When power is applied, the regulator gets red hot, so I am surprised that this component isn't heatsinked

Maybe it is only getting hot coz the resistor has burnt out?
I'm no expert, so maybe someone could shed some light on this
Would replacing the resistor solve the problem, or would it have taken out other components as well?