You were right! It is a torque sensor, and oddly enough it is located by the rear wheel hub instead of the more common bottom bracket/pedal shaft. The local mech says it needs a sensor replacement and I'm having a hard time sourcing one. Looks like the CTb is discontinued here (Canada). Is it more readily available in the UK? If I can't source it here, I wonder if I can convert the whole thing to a different system altogether instead of having to buy a new ebike.