The knob on the left allowed the selection of one or two broiling elements and the red lenses were for the lights that came on to signal which broiler selection had been made. The top of the oven is covered with the broil elements along with one perimeter coil to give top heat during baking. The broil elements are open coil, although the plug out bake element is a sealed Corox unit. The oven racks are amazingly strong; very heavy duty. I used that stove for many years, but the disappointing thing was the oven's shallow depth. If it had been deeper like a Frigidaire oven, it would have held 3 Bundt pans in a staggered pattern on one rack, but it only held two. The narrower, but deeper and taller 1954 Frigidaire master oven actually could bake 2 Bundt cakes on one rack and one in the companion oven, so out of the same 40" of floor space, it could bake more than the WH. The 1961 Frigidaire has larger ovens so the master oven can bake 4 Bundt cakes at once and the companion oven bakes 2.
If you look at a WH and Frigidaire stove from 1955 side by side, you can see how much taller the Frigidare oven doors are.
Mine is not this TOL model so it did not have the "electronic unit" but it does have the Super Corox Unit which was the WH version of the speed heat. Surprisingly the original control was still good, but we removed the 230 feed from it to lessen the chances of losing the control or the element. Doubling the voltage on a 1500 watt 115 volt element increased the wattage 4 times so it was pumping out close to 6,000 watts while running on 230. That places great stress on the control and the element.