Ok, a bit of an update from my research. After coming across a thread on reddit of a similar Dalxo model like this RCA oven and an Empava model on Ebay, it seems like the internals are 100% analog with no electronics. There appear to be two high limits on each side of the incoming mains, an adjustable probe thermostat, a mechanical winding timer with bell like a toaster oven, a function selector switch, a thermostatically activated internal cooling fan, an inner and outter coil broil element, a bottom bake element, a convection element, a convection fan and in incandescent cavity light. The selector switch simply activates each of the elements and fan in various combinations to achieve the listed functions.
Pictures of the insides can be seen by clicking "read more" and scrolling downward-
In some way yes this looks like a glorified toaster oven, in other ways it is a start to a nice conceptual of not having any electronics. I love the simplicity, design and safety of the control system and would not mind having such beefed up and stretched to a larger model. Of note the OP complains that his oven never stops heating, I am guessing because of the two brown wires being mixed up at the selector switch however with better quality control and testing that is something that would not happen in a refined version of production. This concept has potential and is worth improving in my opinion.